Question

Find the compound interest on ₹ 4,000 for 1 year at 8% per annum when compounded quarterly.

Answer 1

Answer:

THE AMOUNT IS ₹4,329.72864

Step-by-step explanation:

PARAMETERS GIVEN,

PRINCIPAL=₹4,000

TIME=1 YEAR COMPOUNDED QUARTERLY

RATE%=8%

SO,

WE KNOW,

A=P(1+R/400)⁴ⁿ

 = 4000(1+8/400)⁴*¹

 = 4000(51/50)⁴

 =(4000*51*51*51*51)/50*50*50*50

 = 27,06,08,04,000/62,50,000

 = ₹4,329.72864

I HOPE YOU UNDERSTOOD THE QUESTION!!!