Question

Iluse
Calculate compound interest on 1000 over a period of 1 year at 10% per annum, if
interest is compounded quarterly?
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Answer 1

Answer

Step by step explanation

u can take help from this.

Answer 2

Answer:

Rs.103.81

Step-by-step explanation:

When compounded quarterly, the rate becomes one-fourth and the time is multiplied by 4.

Principal (P) = Rs.1000

Rate (R) = 10%

Time (n) = (1×4) years = 4 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 1000 (1 + 10/400)⁴

=> A = 1000 (41/40)⁴

=> A = Rs.1103.81

Compound Interest = A-P = Rs.(1103.81 - 1000) = Rs.103.81