Question

Find the amount and the compound interest on rs 24000 for six months if the interest is payable quarterly at the rate of 20 paise a rupee per annum

Answer 1

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Secondary School

Math

5+3 pts

Find the compound interest on 24000 for six month if the interest is payable quarterly @ 20 paise per annum

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 by Aaamitkumar11 22.10.2016

Answers





Golda 

★ Brainly Teacher ★

Solution:-
P = Rs. 24000
Time or n = 6 months = 2 periods of 3 months each or n= 2.
Rate = 20 paisa per one rupee per annum
= 20 paisa per 100 paisa
R = 20 % per annum
There are 4 quarters in a year so, R = 20/4 = 5 % for 3 months
A = P(1 + R/100)ⁿ
A = 24000(1 + 5/100)²
A = 24000 × 105/100 × 105/100
A = 12 × 105 × 21
A = 26460 Rs.
Compound Interest = A - P
Compound Interest = 26460 - 24000
Compound Interest = 2460 Rs.

Answer 2

Answer:

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