Question

Find the compound intrest on 2000 for 8 months at 15% per annum, compounded quarterly,
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Answer 1

Step-by-step explanation:

i am just giving you an example. because you have to make your answers own

1) Find the compound interest on $320,000 for one year at the rate of 20% p.a., if the interest rate is compounded quarterly.

Solution:

Here, P = $320,000, R = 20% p.a. and n = 1 year.

∴ Amount after 1 year = P ( 1 + R/4 ) 4n

= 320,000 x ( 1 + 0.20/4 ) 4 x 1

= 320,000 x ( 1 + 0.05) 4

= 320,000 x (1.05 ) 4

= 320,000 x 1.21550

= Rs. 388,962

Answer 2

i am giving you just a example

i hope this answer is helpful