find the compound interest on 1000 for 2 years at 10% per annum compounded quarterly
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210 Rs
Explanation:
It is given that principal is 1000 Rs.
Rate of interest is r= 10% per annum
therefore on using formula,
C.I=P[(1+r/100)^n-1]
= 1000[(1+10/100)^2-1]
= 1000[(1+1/10)^2-1]
= 1000[(1+0.1)^2-1]
= 1000[(1.1)^2-1]
= 1000[1.21-1]
= 1000×0.21
= 210 Rs
hence, compound interest is 210 Rs
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