Find C.I. on Rs.25,000 for 6 months at 8% p.a. when the intrest is compounded quaterly​

Question

Find C.I. on Rs.25,000 for 6 months at 8% p.a. when the intrest is compounded quaterly​

in progress 0
Claire 1 month 2021-08-14T07:17:04+00:00 1 Answer 0 views 0

Answers ( )

    0
    2021-08-14T07:18:57+00:00

    Answer:

    Compound Interest = 1010

    Step-by-step explanation:

    Principal = 25,000

    Time = 6 months

    Rate = 8%

    But it is compounded quarterly.

    So,

    Time = 1/2 year × 4 = 2years

    Rate = 8% /4 = 2%

    Compound Interest = P [(1+R/100)^t 1]

    = 25,000 [ (1 + 2/100)^2 – 1 ]

    = 25,000 [ (102/100)^2 – 1 ]

    = 25,000 [ 10404/10000 – 1 ]

    = 25,000 [ 404/10000 ]

    = 25,000 × 404/10000

    = 25 × 404/10

    = 1010 = Compound Interest

    Hope it will help you.

Leave an answer

Browse
Browse

18:9+8+9*3-7:3-1*13 = ? ( )