what principal will amount RS 14641 at 40 percent per annum compounded quartly for 1year
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Interest for the first year = Rs \dfrac{10000 \times 5 \times 1}{100} = Rs. 500
[We are using the formula S.I.=\dfrac{P \times R \times T}{100} ]
\therefore amount at the end of first year = Rs 10000 + Rs. 500 = Rs. 10500
Interest for the second year = \dfrac{10500 \times 5 \times 1}{100} = Rs. 525
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