Question

find the compound interest on ₹4000 for 1 year at 10% per annum, the interest being compounded quarterly.​ ans ₹415.25 please solve this​

Answer 1

Answer:

Compound interest is 415.25 Rs.

Step-by-step explanation:

In the given question,

Principal Amount, P = 4000

Time for interest , t = 1 year

Rate of interest, r = 10% per annum compounded quarterly

Now, we know that in case of compounded quarterly.

The rate of interest is reduced to 1/4 times of initial and time increases by 4 times.

So,

New rate, R = 10/4 = 2.5 %

New Time, T = 1 x 4 = 4 years

So,

Compound Interest is given by,

$CI=P(1+\frac{r}{100})^{t}-P$

So,

$CI=4000(1+\frac{2.5}{100})^{4}-4000\\CI=4000(1.025)^{4}-4000\\CI=4415.25-4000\\CI=415.25 \ Rs.$

Therefore, the Compound interest is 415.25 Rs.

Answer 2

Compound interest = 415.251.                  

To find:

The compound interest on ₹4000 for 1 year at 10% per annum, the interest being compounded quarterly

Given data:

Principal (P) = 4000

Number of years (n) = 1

Rate (r) = 10%    

Formula used :

$\text{CI} = \text{P}(1+\frac{\text{r}}{100} )^\text{n} - \text{P}$

Solution:

Since quarterly, 10% will be 2.5% for 3 months

$\text{CI} = \text{P}(1+\frac{\text{r}}{100} )^\text{n} - \text{P}$

Applying the above values of principal, rate and number of years, we get

$\text{CI}=4000(1+\frac{2.5}{100})^4 - 4000$

$\text{CI}=4000(\frac{102.5}{100})^4 - 4000$

$\frac{102.5}{100}$ which can be written as 1.025.

$\text{CI}=4000({1.025})^4 - 4000$

$(1.025)^4$ we get the value 1.10381289.

CI = (4000 × 1.10381289) - 4000                          

CI = 4415.2515625 - 4000

CI = 415.2515  

Therefore, the compound interest is 415.251.

To solve more:

1. P= 10000 , R= 14% , T= 19/7 find compound interest ​

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2.Find the amount and compound interest on rupee 20000 at 7.5% per annum after 3 years

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