Question

If ₹12000 taken for 2 years at 4% per annum compounded quarterly, then time period and rate is​

Answer 1

Answer:

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Step-by-step explanation:

Given P=Rs.12,000,R=4% and n=2 years.

Using the formula,

A=P(1+100R)n we get

A=12000(1+1004)2=12000(100104)2

=12000(1.04)2=12,979.2.

Therefore,

C.I.=A−P=Rs.12,979.2−Rs.12,000=Rs.979.2.