Question

find compound interest on rs 50000 for 6months at 12% per annum when the interest is compounded quarterly

Answer 1

Answer:

Step-by-step explanation:

Answer 2

The compound interest on rs 50000 for 6 months at 12% per annum when the interest is compounded quarterly is Rs.3045

Step-by-step explanation:

Principal = Rs.50000

Time = 6 months =$\frac{1}{2} year = 0.5 year$

No. of compounds per year = 4

Rate of interest = 12%

Amount =$P(1+\frac{r}{n})^{nt}$

Amount =$50000(1+\frac{0.12}{4})^{4 \times 0.5}$

Amount =53045

Compound interest = 53045-50000=3045

Hence The compound interest on rs 50000 for 6 months at 12% per annum when the interest is compounded quarterly is Rs.3045

#Learn more:

Find the compound interest on Rs.1400 for 9 months at 12% per annum if the interest is compounded quarterly.

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