Question

Find the compound interest on rs 50000 at 12% per annum for 6 months compounded quarterly

Answer 1

Answer:

$\frac{50000 \times 12}{100 \times 6} \\ = \frac{500 \times 12}{6} \\ = 500 \times 2 \\ = 1000.$

answer

Step-by-step explanation:

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Answer 2

The compound interest is Rs.3045

Step-by-step explanation:

Principal = Rs.50000

Rate of interest =12%

Time = 6 months =$\frac{6}{12}=\frac{1}{2} =0.5years$

No. of compounds per year = 4

$Amount =P(1+\frac{r}{n})^{nt}$

$Amount =50000(1+\frac{0.12}{4})^{4 \times 0.5}$

Amount =53045

Compound interest = Amount - Principal = 53045-50000=3045

Hence The compound interest is Rs.3045

#Learn more:

Find the compound interest on Rs.1400 for 9 months at 12% per annum if the interest is compounded quarterly.

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