Question

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

Answer 1

Answer:

989.18

Step-by-step explanation:

▪Given:

☆ Principle = (p) = 12,000

☆ Rate = (r) = 8% I.e. 0.08

☆ Quaterly (0.08 ÷ 4) = 0.02

☆ Time = (n) = 1 yrs

☆ $CI = P[(1+i)^n-1]$

= $12000[(1+0.02)^4-1] [(1.01)^4-1] = 0.08243216$

= 12000 × 0.08243216

= 989.18

Answer 2

989.18

Step-by-step explanation:

▪Given:

☆ Principle = (p) = 12,000

☆ Rate = (r) = 8% I.e. 0.08

☆ Quaterly (0.08 ÷ 4) = 0.02

☆ Time = (n) = 1 yrs

☆ CI = P[(1+i)^n-1]CI=P[(1+i)n−1]

= 12000[(1+0.02)^4-1] [(1.01)^4-1] = 0.0824321612000[(1+0.02)4−1][(1.01)4−1]=0.08243216

= 12000 × 0.08243216

= 989.18