Question

Find compound interest,
Principal= 50000
Rate=8%
Time=9 months
compounded quarterly

Answer 1

$\huge\underbrace\mathcal\red{QuestioN}$

Find compound interest,

Principal= 50000

Rate=8%

Time=9 months

compounded quarterly

$\huge\underbrace\mathcal\green{AnsweR}$

1 quarter = 3 months

Given,

P=50000        

R=8% per annum = (8/4)% per quarter = 2% per quarter

T=9 months = 3 quarters

Amount = P $(1+\frac{R}{100})$ ^T

Amount= 50000 $(1+ \frac{2}{100} )$³

Amount = 50000$(\frac{51}{50})$³

Amount = $\frac{50000*50*50*50}{51*51*51}$ = 53060.40

Compound interest = Amount - Principal

CP = 53060.40 - 50000 = 3060.40

$\huge\underline\mathfrak{TheDarth}$

Answer 2

{tex}\huge\underbrace\mathcal\red{QuesoN} QuestioN{/tex}

Find compound interest,

Principal= 50000

Rate=8%

Time=9 months

compounded quarterly

{tex}\huge\underbrace\mathcal\green{AnweR} AnsweR{/tex}

1 quarter = 3 months

Given,

P=50000

R=8% per annum = (8/4)% per quarter = 2% per quarter

T=9 months = 3 quarters

Amount = P (1+\frac{R}{100})(1+

100

R

) ^T

Amount= 50000 (1+ \frac{2}{100} )(1+

100

2

) ³

Amount = 50000(\frac{51}{50})(

50

51

) ³

Amount = \frac{50000*50*50*50}{51*51*51}

51∗51∗51

50000∗50∗50∗50

= 53060.40

Compound interest = Amount - Principal

CP = 53060.40 - 50000 = 3060.40

{tex}\huge\underline\mathfrak{TheSHIROMAI} THE SHIROMANI{/tex}