Question

Find the compound interest on Rs 50,000 for one year at the rate of 8% when the interest is compounded quarterly.

Answer 1

$\huge\red{Answer\: is}$

P = ₹ 50000
R = 8% = 8/4% per quarter. 2%
T = 1 year = 4 for quarter. = n

A = P(1+ R/100)^n
$= 50000 \times (1 + \frac{2}{100} ) {}^{4} \\ = 50000 \times ( \frac{51}{50} ) {}^{4} \\ = \frac{50000 \times 51 \times 51 \times 51 \times 51}{50 \times 50 \times 50 \times 50} \\ = 54121.60$

So CI = A - P

= 54121.60 - 50000

=₹ 4121.60

Hope it helps you