Question

The compound interest on 40000 at 6/ annum for 6 months compounded quarterly is

Answer 1

it is given that principle amount, P 40000 Rs, rate of interest, r = 6% per annum and time, n = 6 months.

we have to find the compound interest.

a/c to question,

compound interest is quarterly so time = 6/3 = 2 quarters

rate of interest, r = 6% per annum = 6/4 = 1.5 per quarter.

using formula, A = P(1 + r/100)ⁿ

= 40000(1 + 1.5/100)²

= 40000(1 + 0.015)²

= 40000(1.015)²

= 40000 × 1.030225

= 41209 Rs.

now compound interest = A - P

= 41209 - 40000 = 1209 Rs

therefore compound interest is 1209 Rs.

Answer 2

Answer:

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