Question

Find the compound interest on Rs. 1000 for 10 years at 4% per annum if the interest
is calculated quarterly.​

Answer 1

Answer:

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Answer 2

Compound interest would be Rs. 488.86.

Step-by-step explanation:

Since we have given that

Principal = Rs. 1000

Number of years = 10

Rate of interest = 4%

So, it becomes,

$A=P(1+\dfrac{r}{400})^{4n}\\\\A=1000(1+\dfrac{4}{400})^{4\times 10}\\\\A=1000(1+0.01)^{40}\\\\A=Rs.\ 1488.86$

So, Compound interest = Amount - Principal

= 1488.86-1000

=Rs. 488.86

Hence, Compound interest would be Rs. 488.86.

# learn more:

Find the compound interest on rs.1000 for 10 years at 4% per annum if the interest is calculated quarterly

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