find the amount and the compound interest on rupees 10000 for 1year at 10% per annum compounded quarterly
Answers
Answer:
Rs 2155.06
Step-by-step explanation:
Principal = Rs 10,000
Rate = 20%
Time = 1 year
It is given that Interest Is compounded Quarterly :
Then,
\textbf{\underline{\underline{According\:To\:Question :}}}
AccordingToQuestion :
Rate = \frac{20}{4}
4
20
= 5%
Time = 1 × 4 = 4 years
Compound Interest =
\sf \: Amount = P \: (1 + \dfrac{r}{100} ) ^{n}Amount=P(1+
100
r
)
n
\sf \: Amount = 10000(1 + \dfrac{5}{100} ) ^{4}Amount=10000(1+
100
5
)
4
\sf \: Amount = 10000(1 + \dfrac{1}{20} ) ^{4}Amount=10000(1+
20
1
)
4
\sf \: Amount = 10000( \dfrac{21}{20} ) ^{4}Amount=10000(
20
21
)
4
\sf \: Amount = 10000 \times \frac{21}{20} \times \frac{21}{20} \times \frac{21}{20} \times \frac{21}{20}Amount=10000×
20
21
×
20
21
×
20
21
×
20
21
\sf \: Amount = \dfrac{21\: \times\: 21\: \times\: 21 \times\: 21}{2\:\times\:2 \times\:2\: \times\:2}Amount=
2×2×2×2
21×21×21×21
\sf \: Amount = \dfrac{194481}{16}Amount=
16
194481
\sf \:Amount = 12155.06Amount=12155.06
Compound Interest = Amount - Principal
\implies⟹ Rs 12155.06 - Rs 10000
\huge{\boxed{\tt{Rs\:2155.06}}}
Rs2155.06
Answer:
Answer
P=Rs. 10000
T=12 months=1year
R=10% p.a
Compounded quarterly
∴n=4
A=P(1+
n
R
)
nT
=10000[1+
4
10
]
4×1
=10000×(
4
14
)
4
=10000×(
2
7
)
4
=
2×2×2×2
10000×7×7×7×7
A=Rs. 1500625
Compound Interest=Amount−P
=Rs. (1500625−10000)
=Rs. 1490625