Question

Hey Rohit deposited rupees 10000 in a bank for 6 months if the bank pays compound interest at 12% per annum reckoned quarterly find the amount to be received by him on maturity

Answer 1

P (principle) = ₹10,000
T (time) = 6 months = (6/12 * 4) = 2 quater months
R (rate) = 12% = (12/4) = 3%

A (amount) = P( 1+R/100) ^T
= ₹ 10,000 (1+3/100)^2
= ₹10,000 (103/100)^2
= ₹ 10,000 * 103/100 * 103/100
= ₹10,609

I hope it helps.

Answer 2

Answer:

10,609

Step-by-step explanation:

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