Question

find the compound interest on ₹16000 at 20℅ p.a for 1 year when compound quarterly
solve proper​

Answer 1

Answer:

Rate = 20% per annum = 5% per quarter. Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.

Answer 2

Answer:

CI = ₹3448.1

Step-by-step explanation:

Principal = ₹16000

Rate of interest = 20%p.a

Time= 1yr (compounded quarterly)

After compounding quarterly:-

P = ₹16000

R = 5%

T = 4

$a = p(1 + \frac{r}{100} {)}^{n}$

$a = 16000(1 + \frac{5}{100} {)}^{4}$

$a = 16000( \frac{105}{100} {)}^{4}$

$a = 16000 \times \frac{105 \times 105 \times 105 \times 105}{100 \times 100 \times 100 \times 100}$

$a = \frac{21 \times 21 \times 21 \times 21}{10}$

$a = \frac{194481}{10}$

Hence amount is ₹19448.1,

CI = Amount - Principal

CI = 19448.1 - 16000

CI = ₹ 3448.1

Hence it is your required answer..

Hope it helped...