Question

principal ₹20000 rate=20% per annum compouded quarterly time=1year

Answer 1

Heya !!!

Here's your answer dear →

Principal amount = Rs 20,000

Rate of interest = 20%

Rate of interest per quarter = 20/4 = 5%

Number of quarters in 1 year = 4

Amount = P ( 1 + R / 100)^n

Where, P is the principal, R is the rate of interest and n is the time period

By putting the values, we have -

20000 × ( 1 + 5 / 100 )^4

= 20000 × 105/100 × 105/100 × 105/100 × 105/100

By cancelling, we are left with

21 × 21 × 21 × 21/50

= Rs 3889.62

You can refer the image for more details

Hope this helps you

@PoojaBBSR