Question

find the compound interest on 15625 at 16% per annum for 6 month when compounded quartely​

Answer 1

Answer: The compound interest Rs. 1275

Step-by-step explanation:

P = Rs. 15625,

r = 16%per annum = 16%/4 per quarter = 4% per quarter

n = 6 months =6/12x 4=2 quarters

Using the formula find the amount of a year

Amount = P(1 + r/100)^n

= 15625(1 + 4/100)^2

=15625(104/100)^2

=169000000/10000

= Rs. 16900

Hence, we get the amount  Rs. 16900

Using the formula find the amount

Interest = A - P

= 16900 - 15625

= Rs. 1275

Hence,we get the interest Rs. 1275