under a scheme investment the rate of interest is 4% and the interest compounded three monthly. what will be the amount if a man invests 2000 rupees in 1 year
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Step-by-step explanation:
4% = 1/25
25 part is principle ,1 part interest .so, 26 part is amount ,
time duration 1 year , compounded quarterly= 3 months
principle amount
25⁴ 26⁴
390620 456976
390620 = 2000
456976 = x
apply cross multiplication method,
x = 2,339.74
amount = 2339.74 ₹
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