Question

the compound interest on Rs 20000 at 12% per annum for 6 months Compounded quarterly will be ​

Answer 1

Answer:

check the photo for explanation

Answer 2

Compound interest is the interest on a loan or deposit that accrues on both the initial principal and the accumulated interest from previous periods.

Given: $P=20,000Rs$

$R=12%$ per annum

So, $P=Rs 20,000$ $R=\frac{12}{4}$% per quarter

$=3$% per quarter

$n=6$ months$=2$ quarters

Amount $=Rs(20000\times(1+\frac{3}{100} )^2)$

$=Rs(20000\times \frac{103}{100}\times \frac{103}{100}$

$=Rs 21218$

$CI=$Amount - Principal

$=21218-20000$

$=Rs 1218$