Question

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

Answer 1

Answer:

P (principle) = ₹10,000

T (time) = 6 months = (6/12 * 4) = 2 quater months

R (rate) = 12% = (12/4) = 3%

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

= ₹ 10,000 (1+3/100)^2

= ₹10,000 (103/100)^2

= ₹ 10,000 * 103/100 * 103/100

= ₹10,609

Step-by-step explanation:

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