Question

how much interest will be received by jayesh depositing 75000 rupees in the bank and the rate of 9% for 4 year​

Answer 1

$\huge{\underline{\underline{\mathfrak{AnSwEr}}}}$...

The Amount received by Naresh after 6 months is 7803 ( which has principal 7500 + interest 303)

Step-by-step explanation:

Amount = Principal + Interest

Formula for Compound Interest calculated quarterly ,

Amount = P(1+(R/4)/100)^4n ; Where P denoted the Principal; R denotes the rate of Interest and n denotes the time period.

Given :

Principal (P) = Rs 7500

Rate of interest (R) = 8% per annum

Time period (n) = 6 months.

Note that since the interest is compounded quarterly the time period should be converted in to quarters.

Therefore,  n = 2/4 ( The 12 months of the year is converted in to 4 quarters with 3 months each. Since it is given that the time period of investment is 6 months, it contains 2 quarters).

Substituting the value of P, R, N in the formula we get,

Amount = 7500(1+(8/4)/100)^4(2/4)

Amount = 7500(1+2/100)^2

Amount = 7500(102/100)^2

Amount = 7500(51/50)^2

Amount = 7500((51/50)*(51/50))

Amount = 3(51*51)

Amount = 3(2601)

Amount = 7803

hope it helps...

Answer 2

\huge{\underline{\underline{\mathfrak{AnSwEr}}}}

AnSwEr

...

The Amount received by Naresh after 6 months is 7803 ( which has principal 7500 + interest 303)

Step-by-step explanation:

Amount = Principal + Interest

Formula for Compound Interest calculated quarterly ,

Amount = P(1+(R/4)/100)^4n ; Where P denoted the Principal; R denotes the rate of Interest and n denotes the time period.

Given :

Principal (P) = Rs 7500

Rate of interest (R) = 8% per annum

Time period (n) = 6 months.

Note that since the interest is compounded quarterly the time period should be converted in to quarters.

Therefore, n = 2/4 ( The 12 months of the year is converted in to 4 quarters with 3 months each. Since it is given that the time period of investment is 6 months, it contains 2 quarters).

Substituting the value of P, R, N in the formula we get,

Amount = 7500(1+(8/4)/100)^4(2/4)

Amount = 7500(1+2/100)^2

Amount = 7500(102/100)^2

Amount = 7500(51/50)^2

Amount = 7500((51/50)*(51/50))

Amount = 3(51*51)

Amount = 3(2601)

Amount = 7803

hope it helps...