Find the amount and the compound interest at the rate of 10% per annum for 1.5 years on a sum of ₹8000 when compounded quarterly olso please don't tell only answer explain the method also
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Answer:
Rs.6160
Step-by-step explanation:
A=P(1+
100
R
)
n
Given:-
R=10%
n=1.5 years=6 quarters
P=Rs.8000
Therefore,
A=8000(1+
100
10
)
6
⇒A=8000×(
10
11
)
6
⇒A=8000×(1.1)
6
⇒A=8000×1.77≈Rs.14160
Therefore,
C.I.=A−P
⇒14160−8000=Rs.6160
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