Question

Find the compounded interest for six months on Rs.10,000 at an annual rate of
interest of 12% if the interest is compounded every 3 months.
co that he
10.​

Answer 1

Answer:

Amount after 6 months =

$10000 \times (1 + \frac{3}{100} ) {}^{2} = 10000 \times \frac{103}{100} \times \frac{103}{100}$

$= 103 \times 103 = 10609$

so compound interest = 10609 – 10000 = ₹ 609. Ans