Find the compound interest on Rs 160000 for one year at the rate of 20% per annum
the interest is compounded quarterly.
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Answered by
2
Answer:
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Step-by-step explanation:
Given details are,
Principal (p) = Rs 160000
Rate (r) = 20% = 20/4 = 5% (for quarter year)
Time = 1 year = 1 x 4 = 4 quarters
By using the formula,
A = P (1 + R/100)^n
= 160000 (1 + 5/100)^4
= 160000 (105/100)
= Rs 194481
∴ Compound Interest = A-P= Rs 194481 – Rs 160000 = Rs 34481
Answered by
0
Answer:
amount to which rs 160000 will hrow@ per annum compound quarterly after 1 year is 160000 ✖ 1.05^4 is equal to 194481
the compound interest is 194481-160000
34481
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