Question

Find the amount of Rs. 24500 in 6 months at
8% per annum, when the interest is
compounded quarterly​

Answer 1

Answer:

24500(1+2/100)^2

24500×102/100×102/100

245×102×102

2548980

Step-by-step explanation:

Answer 2

Answer:

Step-by-step explanation:

Given:

Principle = p = 24,500

Rate of interest = 8%

Time = 6 months

To Find

Amount

Equation used

$Amt = p(1+i)^n$

Solution:

$Amt = 24,500(1+0.02)^{\frac{6}{12}*4}$

$Amt = 24,500(1+0.02)^2$

$(1+0.02)^2 = 1.0404$

$Amt = 24,500 * 1.0404$

$Amt = 25,490$

Hence the amount is 25,490