Question

. Find the amount and the compound interest on 24000 for six months if the interest is payable quarterly at a rate of 20 Paisa at rupees per annum

Answer 1

Answer:

24000 20%

1/4 = 5% quarterly

Then 6 months ka c.i. =2460

Answer 2

Answer:

amount=26460

compound interest=2460

Step-by-step explanation:

Amount=Principal {1+(rate/100)}^time

A=24000{1+(5/100)}^2

A=24000{105/100}^2

A=24000{21/20}^2

A=24000×441/400

A=60×441

A=26460

Compound interest=Amount-Principal

C.I=26460-24000

C.I=2460