Math, asked by rk473713, 4 months ago

Find the compound interest on 64000 rupees for 1 year at 10% per annum compounded quarterly.....Ans is 6644.03 rupees

Answers

Answered by akshita1946

1

Step-by-step explanation:

We know formula for compound interest compounded quarterly

Amount=P(1+

n

r

)

nt

CompoundInterest=Amount−Principal

Given,

principal=Rs64000

Time=1year

Rate=10%

=64000(1+

4

.1

)

4

=64000(1.025)

4

=64000×1.10381

=70644.025

Amount is Rs70644.025

Compound interest will be=(70644.025-64000)=Rs6644.025

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