Question

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.​

Answer 1

Step-by-step explanation:

Amount = Principal × (1 + r/100)n

Compound interest = Amount - Principal

Calculation:

Principal sum = Rs. 8000

Rate = 10%

Interest is calculated half-yearly, So, Rate, R = 10/2 = 5%

Time = 1.5 years = 3 half years, So, n = 3

Amount = 8000 × (1 + 5/100)3

⇒ Amount = 8000 × 21/20 × 21/20 × 21/20

∴ Amount = Rs. 9261

Compound interest = Amount - Principal

∴ Compound interest = 9261 - 8000 = Rs. 1261

Answer 2

Step-by-step explanation:

r= 10℅ p. a.

n = 3/2 years p = ₹8000

A = ₹9277.74

C. I. = ₹1277.74

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