Question

find the compound interest on a sum of RS 12000 at the rate of 8% per annum for 1 year compounded quarterly. please step by step

Answer 1

A = P (1+r/400)^4n
=12000 (1+8/400)^4×1
=12000 (1+1/50)^4
=12000×51/50×51/50×51/50×51/50
=12×51×51×51×51/5×5×5×50
=6×6,765,201/5×5×5×25
=40,591,206/3125
A=12,989.18592

therefore, C.I. = A - P
= 12,989.18592 - 12000
C.I = 989.18

Answer 2

Answer:

Required compound interest is 60 rupees.

Step-by-step explanation:

Given,

Principal = Rs.12000 Rate = 8% per annum Compounded quarterly time = 3 months Formulas

We know,

Compound Interest = (Amount - Principal)

Where,Amount = $p {(1 + \frac{r/4}{100}) }^{4t}$

Here,Rate per quarter

$= \frac{8\%}{4} \\ = 2\%$

time= 3 months = 1 quarter

Compound Interest

$= 12000 {(1 + \frac{2/4}{100}) }^{4 \times \frac{1}{4}} - 12000 \\ = 12000(1 + \frac{1}{200} ) - 12000 \\ = 12000 \times \frac{201}{200} - 12000 \\ = 12000 \times \frac{1}{200} \\ = 60$

Hence required compound interest is 60 rupees.

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