Question

find the amount and compound interest at the of 10% per annum for 1.5 year on the amount 8000 when compounded quarters​

Answer 1

Answer:

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Step-by-step explanation:

Given,

Principal (P) = Rs.8000

Rate (R) = 10% pa

Time (n) = 1.5 yrs

The Interest is compound quarterly : 4 months

so, n = (15/10)×4 = 60/10 = 6

C.I = Amount - principal

&

A = P(1+R/100) to power n

Therefore,

A = 8000(1+10/600) to power 6

= 8000(61/60) to power 6

A = (1815848/216) × (226981/216000)

= (8406.703×1.05083)

Amount = Rs. 8834.08

Now,

C.I = Rs. 8834.08 - Rs. 8000

C.I = Rs. 834.08