am leaving from brainly app who are in genius rank please answer this my last question please only genius rank will answer
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am leaving from brainly app who are in genius rank please answer this my last question please only genius rank will answer
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Answer:
Explanation:
Given,
We need to calculate the compound interest and the amount which is compounded quarterly.
Since, it is compounded quarterly the principal is compounded over 3 months a year. Then, the rate becomes ¼ of 100 i.e., 25% and the time becomes 4 times i.e., 4 years.
Calculating the amount by,
Where,
So,
So ,the amount is ₹625
Compound interest is :-
= Amount - principal
= 625 - 256
= 369
_____________________
Compounded quarterly :
Quarterly is an interval over 3 months. So whenever, an amount is compounded quarterly, the time is multiplied by 4 and the rate is divided by 4.
Formula used :
Amout formula :