Question

find the compound interst on 7500rs at the rate of 12% per annum if the interset is componded quaterly

Answer 1

Let Principal = P, Rate = R% per annum, Time = n years.

I. When interest is compound Annually:

                        Amount = P(1+R/100)n

II. When interest is compounded Half-yearly:

                        Amount = P[1+(R/2)/100]2n­

             

              III. When interest is compounded Quarterly:       

                Amount = P[ 1+(R/4)/100]4n

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