Find the compound interest on Rs. 320000 for one year at the rate of 20% per annum if the
interest is compounded quarterly.
I want explanation
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2
Answer:
Hopeful that is useful for you
Step-by-step explanation:
Amount =P(1+r
/100)^n
Where P= principle, r= rate of internal n= time
Amount =320000(1+
400
20
)
4
=388962
Compound interest = Amount - principle
=388962−320000
=68962
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