Question

Find the amount and compound interest if interest is compounded quarterly principal is 10000 time6 month rate 10%

Answer 1

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${\pink{\huge{Rupees\: 2100}}}$

⭐${\blue{\huge{Explanation}}}$⭐

Use the formula to calculate tye CA and subtract P from it.

CA = P[1+R%]ⁿ

Here CA is the compound amount, P is the principal amount and n is the time

Here interest is compounded quaterly and the time period given is 6 months . In 6 months the interest will be taken twice, so time is taken as 2

Putting all values in the formulae,

CA = 10000 [1 + 10/100]²

CA = 10000 [11/10]²

CA = 10000 × 11/10 × 11/10

CA = 12100 rupees

CI = CA - P = 12100 - 10000 = 2100

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