Question

Principal = 20,000, Rate = 20% per annum compounded quarterly, Time - 1 year​

Answer 1

Answer:

interest= Rs 4,000                      Amount= Rs 24,000

Step-by-step explanation:

p=20,000

r=20%

t=1yrs

interest(i)=p*t*r/100

               =20,000*1*20/100

                =400,000/100

                =Rs 4,000          

Amount(a)=P+I

                = 20,000+4,000

                =24,000

Answer 2

Answer:

CI = 1000

Amt = 21,000

Step-by-step explanation:

Principle = p =20,000

Rate = 20% i.e. 0.2

Time = 1 yrs

Compounded quaterly = 0.2 ÷ 4 = 0.05

$CI = P[(1+i)^n-1]$

$CI = 20,000[(1+0.05)^1-1]$

$CI = 20,000[(1+0.05)^1-1]$

$[(1.05)^1-1] = 0.05$

CI = 20,000 × 0.05

CI = 1000

Amt = Principle + Intrest

Amt = 20,000 + 1,000

Amt = 21,000