Question

what is the compound interest on rs 8000 for 6 months at 20 % per annum compounded quarterly ?​

Answer 1

$\sf \color{purple}HERE \: IS \: YOUR \: ANSWER$

C.I.=P(1+rn)nt−P , where P is the principal (or original amount), r is the annual rate, n is the number of times interest compounded per time period, t is the number of years on which interest has applied.

Complete step-by-step answer:

We are going to use the formula of compound interest which is written below:

C.I.=P(1+rn)nt−P

Where P: the Principal (or original amount)

r: annual rate of interest

n: number of times interest compounded per time period

t: number of years on which the interest has applied

It is given that:

The principal (or original amount) is Rs 8000.

Annual rate of interest is 20%.

The interest is compounding quarterly means n = 4.

The interest compounded quarterly for 9 months means t=912year.

Now, substituting these values in the compound interest formula we get,

C.I.=8000(1+20100(4))4×912−8000C.I.=8000(1+(0.25×0.2))3−8000C.I.=8000(1+.05)3−8000C.I.=9261−8000C.I.=1261

So, the compound interest on Rs 8000 at 20% per annum for 9 months compounded quarterly is 1261.

Answer 2

Answer:

HEREISYOURANSWER

C.I.=P(1+rn)nt−P , where P is the principal (or original amount), r is the annual rate, n is the number of times interest compounded per time period, t is the number of years on which interest has applied.

Complete step-by-step answer:

We are going to use the formula of compound interest which is written below:

C.I.=P(1+rn)nt−P

Where P: the Principal (or original amount)

r: annual rate of interest

n: number of times interest compounded per time period

t: number of years on which the interest has applied

It is given that:

The principal (or original amount) is Rs 8000.

Annual rate of interest is 20%.

The interest is compounding quarterly means n = 4.

The interest compounded quarterly for 9 months means t=912year.

Now, substituting these values in the compound interest formula we get,

C.I.=8000(1+20100(4))4×912−8000C.I.=8000(1+(0.25×0.2))3−8000C.I.=8000(1+.05)3−8000C.I.=9261−8000C.I.=1261

So, the compound interest on Rs 8000 at 20% per annum for 9 months compounded quarterly is 1261.

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Step-by-step explanation:

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