Question

find the compound interest on rupees 1000 at 8 percent per annum for 1 whole 1/2 years when the interest is compound quarterly.​

Answer 1

Answer:

We know,

P(1+

100

R

)

t

Rate has been halved because interest is compounded half yearly and for same reason time has been doubled.

Therefore

=10000(1+

100

4

)

2

=10000×

25

26

×

25

26

=10816

So, interest is 10816−10000=Rs 816

Answer 2

Answer:

P=1000

R=8% = 4%

T=1and1/2years = 3years

Step-by-step explanation:

• A=P(1+R/100)n
• =1000×(1+4/100)³
• =1000×104/100×104/100×104/100
• =1124.864

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