Question

find the compound interest on a sum of rupees 12000 @ 8% per annum for 1 year compounded quarterly

Answer 1

$\sf{\huge{\underline{\mathfrak{ Answer :- }}}}$

$\bf\huge\boxed{Rs. 989.18}$

$\sf\huge\underline\purple{Explanation :-}$

Given :

Principal - Rs. 12000

Rate - 8%

Time - 1 year

We know that,

$\sf\boxed{\star Amount = P {(1 + \dfrac{R}{100}) }^{n}}$

In the case of quarterly,

$\mathsf{\longrightarrow Amount = 12000 {(1 + \dfrac{8}{100 \times 4}) }^{4}}$

$\mathsf{\longrightarrow 12000 {(1 + \dfrac{2}{100}) }^{4}}$

$\mathsf{\longrightarrow 12000 {(1 + \dfrac{2}{100}) }^{4}}$

$\mathsf{\longrightarrow 12000 {(\dfrac{100 + 2}{100}) }^{4}}$

$\mathsf{\longrightarrow 12000 {(\dfrac{102}{100}) }^{4}}$

$\mathsf{\longrightarrow 12000 \times \frac{102}{100} \times \frac{102}{100} \times \frac{102}{100} \times \frac{102}{100}}$

$\mathsf{\longrightarrow 12989.18}$

Therefore, Compound Interest :-

= (Amount - Principal)

= Rs. (12989.18 - 12000.00)

= Rs. 989.18

Hence, The compound interest compounded quarterly is Rs. 989.18

Answer 2

P = 12000

R = 8 %

N = 1 year

Amount = p(1+R/100)n

= 12000(1+2/100)4

= 12000(102/100)4

= 12000×102/100×102/100×102/100×102/100

= 12×102×102×102×102/10×100×100

= 1298918592/100000

=12989.19

I=A-P

= 12989.19-12000

=989.19 Answer

Hope it helps you.....