Question

find the amount and compound interest on rupees 100000 compounded quaterly for 9months at the rate of 4% p.a.
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Answer 1

ANSWER

It is given that 

Principal (P) = 100000

Rate of interest = 4% p.a. or 1% quarterly 

Period (n) = 9 months or 3 quarters 

We know that 

 P(1+r/100)n 

Substituting the values 

= 100000(1+1/100)3

By further calculation 

=100000×101/100×101/100×101/100

= 103030.10

Here 

CI = A - P

Substituting the values 

= 103030.10−100000

= 3030.10

Answer 2

Step-by-step explanation:

Given :

• P = 10000

• n ( time period) = 9 months = 9/3 = 3

• R = 4% = 4/4 = 1%

To Find :

• find the amount and compound interest

Solution :

• Compounded quarterly :

A = P ( 1 + R / 100 ) ^ t

• Substitute all values

A = 100000 ( 1 + 1/100 )³

A = 100000 ( 101/100 )³

A = 100000 × 1.03

A = 103000

Compound interest = A - P

Compound interest = 103000 - 100000

Compound interest = Rs. 3000

• Hence the Amount is 103000 and Compaund interested 3000