Question

Rohit deposited 10,000 in a bank for six months. If the bank pays compoul
interest at 12% per annum reckoned quarterly, find the amount to be received
him on maturity.​

Answer 1

Answer:

1 year=12%

1 quarter=12÷3=4

Intrest=3%×10000

Intrest=0.03×10000=ts 300

Amount=principal+intrest

Amount=10000+300=10300

Intrest=3%of rs10300

Intrest=0.03×10300=rs309

Amount=principal+intrest

Amount=10300+rs309=10609

Answer 2

Answer:

P (Principle) = ₹10,000

T(Time)= 6 months

(6/12*4) = 2 quarter months

R (Rate) = 12% = (12/4) = 3 percent

A(Amount) = P(1+R/100)^T

=₹10,000 (1+R/100)^2

=₹10,000 (103/100)^2

= ₹10,000*(103/100)*(103/100)

=₹10,609

Hope it helps