Question

Find the ci on rs 1000 for 6 months at 20%pa compounded quarterly

Answer 1

Answer:

T = 6*4 = 24 months = 2 years

R = 20/4 = 5 %

[ Bcz of quarterly , we have to multiply T by 4 and divide R by 4 ]

Now,

A = 1000(1+5/100)² = 1000*21*21/20*20 = 1102.5 ₹

CI = A-P = 102.5 ₹ (Ans.)

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