Question

Find the compound interest on rs 1000 @4%per annum if the intrest calculated quaterly

Answer 1

Step-by-step explanation:

time will be 4×1 which is 4 if its per annum

rate will be 4 divided by 4 which is 1

now amount by CI= 1000×(1+1÷100)

1000×101÷100 = 101000÷100=1010

now compound interest is 1010-1000=₹10