Question

Find the compound interest on 8000 rupees for 1 year @12% per annum , interest compounded quarterly​

Answer 1

Step-by-step explanation:

Amount- P(1+r/400)4t

A- 8000(1+12/400)4

A=8000(412/400)^4

A=8000(103/100)^4

A=9004.1

CI=A-P

CI=1004.1

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Answer 2

Answer:

₹9004.07

Step-by-step explanation:

When interest is compounded annually

$p \times {(1 + \frac{r}{4 \times 100} )}^{4t} \\ ₹(8000 \times { \:( 1 + \frac{12}{4 \times 100}})^{4 \times1} ) \\ = ₹(8000 \times ( { \frac{100 + 3}{100} })^{4} \\ = ₹(8000 \times \frac{103}{100} \times \frac{103}{100} \times \frac{103}{100} \times \frac{103}{100}) \\ = ₹9004.07$

Therefore, at the end of two years the amount will be ₹9004.07