find the amount and the compound interest on 10000 for 6 months at 2% per annum compounded quarterly
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Answer:
Rs. 10404
Step-by-step explanation:
Here, P = 10000, R = 2% p.a. and n = 6 months = 6/12 year = 1/2 year
∴ Amount after 6 months = P ( 1 + R/100 ) ^4n
= 10000(1 + 2/100)^4x1/2
=10000(102/100)²
=10000 x 102/100 x 102/100
= 102 x 102
= 10404
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