Find compound interest on Rs.4000 for 6 months at 20% per annum compounded quarterly.
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The compound interest (CI ) is "Rs. 410".
Step-by-step explanation:
Given,
Principle(P) = Rs.4000, Time(n) = 6 months = 2quaterly and
rate(r) = 20 % per annum = 5 % quaterly
Find compound interest (CI ) = ?
∴ Amount(A) = P
A = Rs.4000 × ×
= Rs.4000 × ×
= Rs. 10 × 441
= Rs. 4410
∴ Compound interest (CI ) = Amount(A) - Principle(P)
= Rs. 4410 - Rs.4000,
= Rs. 410
Hence, the compound interest (CI ) is "Rs. 410".
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