Question

he CI on rupees 8000 for 6 months at 12% p.a. payable quaterly is

Answer 1

Answer:

compound interest = 243.60

Step-by-step explanation:

compound interest formula is given by:

compound interest = p[1+i]n -1]

p=the deposited amount

i = interest rate

n= period of investment normally in years .

Since compounding is done quarterly:

1) The interest is divided by four.

2) The period is multiplied by 4

from the question we have:

Time = 6/12 × 2=4

Interest = 12/4=3%

p=4000

We do the substitution in the formula below :

=4000[1.03)2-1]

=4000[1.0609]

=4000×0.609=243.60

the compound interest