Find the compound interest on Rs. 140000 for one year at the rate of 10% per annum, if the interest is compounded quarterly.
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Answers
Answered by
6
Answer:
Given, P=32000 Rs
R=10 % p.a
n=9 months =
4
3
year
If interest compounded quarterly,
Amount = P(1+
4×100
R
)
4n
=32000(1+
400
10
)
4×
4
3
=32000(1+0.025)
3
=34460.5Rs
Compound interest = Amount - Principal
=34460.5−32000
=Rs.2460.50
Step-by-step explanation:
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Answered by
42
Step-by-step explanation:
Given
Principal = Rs 1,40,000
Time = 1 yrs
Rate = 10% per annum
Formula used
Amount= P(1+r/100)^n
where
P= Principal,
r= rate of interest,
n= time amount
Calculation
= 1,40,000(1+10/100)⁴
=1,40,000(110/100)⁴
=1,40,000(11/10)⁴
=1,40,000(14,641/10,000)
=1,40,000(1.46)
=2,04,400
Compound Interest = Amount - Principle
= 2,04,400 - 1,40,000
=64,400
Hence Compound Interest in rs.64,400
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