Question

Find CI on Rs. 10,000 at 20% p.a. for 1 year compounded quarterly.​

Answer 1

Answer:

500

Step-by-step explanation:

Answer 2

Answer:

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We have Rate of interest = 20% per annum =

4

20

=5% per quarter

Time = 1 year = 4 quarters

Principal for the first quarter = Rs. 10000

Interest for the first quarter = Rs.(

100

10000×5×1

)=Rs.500

Amount at the end of first quarter =Rs.10000+Rs.500=Rs.10500

Principal for the second quarter =Rs.10500

Interest for the second quarter = Rs. (

100

10000×5×1

)=Rs.500

Amount at the end of second quarter =Rs.10500+Rs.525=Rs.11025

Principal for the third quarter =Rs.11025

Interest for the third quarter = Rs.(

100

11025×5×1

)=Rs.551.25

Amount at the end of the third quarter =Rs.11025++Rs.551.25=Rs.11576.25

Principal for the fourth quarter Rs.11576.25

Interest for the fourth quarter = Rs.(

100

11576.25×5×1

)=Rs.578.8125

Amount at the end of the fourth quarter =Rs.11576.25+Rs.578.8125=Rs.12155.0625

Compound interest =Rs.12155.0625−Rs.10000=Rs.2155.0625