Question

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​

Answer 1

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