Question

Shruti borrowed ₹10,000 for 2 1/2 year
at 16% per annum Compounded
quartenty. How much amount and
interest she has to pay?​

Answer 1

Answer:

The amount will be 10,000 + 3,000 = 13.000 at the end of 2 years.

Step-by-step explanation:

From the above question:

Shruti borrowed ₹10,000 for 2 1/2 year at 16% per annum Compounded

quartenty.

                             Cq = P [ (1+r)4*n – 1 ]

The simple interest to the sum Rs. 10,000 for 2 years at a rate of interest 15% per annum is $\frac{10,000 X 2 X 15}{100}$

                                    =3,000.

The quarterly compounding formula is taken from the compounding formula. The only difference is that the rate of interest is raised 4*2 to reflect the quarterly computation of the interest.

So the interest will be Rs. 3,000 at the end of 2 years.

And the amount will be 10,000 + 3,000 = 13.000 at the end of 2 years.

Here we need to find how much amount and interest she has to pay.

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