Question

Motilal deposited rs 16000 in a bank which pays interest at the rate of 20% per annum compounded quarterly find the interest received by motilal after one year

Answer 1

principle=16000
rate=20%
time=compounded quarterly =1/4×12 =3
c.i =p (1+r/100)n
16000×1+20/100 n
691200

Answer 2

The interest received by motilal after one year is 3448.1

Step-by-step explanation:

Principal = Rs.16000

Rate of interest = 20%

No. of compounds = 4

Time = 1 year

$Amount = P(1+\frac{r}{n})^{nt}$

$Amount = 16000(1+\frac{0.2}{4})^{4 \times 1}$

Amount = 19448.1

Interest = Amount - Principal = 19448.1 -16000=3448.1

Hence The interest received by motilal after one year is 3448.1

#Learn more:

Calculate the compound interest on Rs 16000 for 9 month at the rate of 20% per annum, compound quarterly​

https://brainly.in/question/14569425