Question

find the amount on Rs 2000 at 4% per annum compounded quartrley for 3 years

Answer 1

2000×(101/100)^12=2000×1.122=2×1122=2244

Answer 2

first \:year = \frac{2000 \times 4 \times 1}{100} = rs80 \\ second \: year = \frac{2080 \times 4 \times 1}{100} = rs83.2 \\ third \: year = \frac{2163.2 \times 4 \times 1}{100} = rs86.528 \\ compound \: interest = 80 + 83.2 + 86.528 = rs249.728[/tex]