Compute C.I. on 9200 for 6 months at 6% per annum when the interest is compounded
quarterly
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Compute C.I. on 9200 for 6 months at 6% per annum when the interest is compounded
quarterly
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Answer:
GIVEN :-
P = ₹92000
R = 6% p.a
TO FIND :-
Interest is Compounded Quarterly
SOLUTION :-
n = 6 months = ½ year
For compound quaterly
Amount = P(1+R/4×100)⁴ⁿ
= 92000(1+6/400)^4×½
= ( 1,610 )⁴/²
= ( 1,610 ) ²
= ₹2592100
Compound interest = Amount - Principal
= 2592100 - 92000
= 2,500,100
So,
Compound Interest = 2,500,100
Answer:
GIVEN :-
P = ₹92000
R = 6% p.a
TO FIND :-
Interest is Compounded Quarterly
SOLUTION :-
n = 6 months = ½ year
For compound quarterly
Amount = P(1+R/4×100)⁴ⁿ
= 92000(1+6/400)^4×½
= ( 1,610 )⁴/²
= ( 1,610 ) ²
= ₹2592100
Compound interest = Amount - Principal
= 2592100 - 92000
= 2,500,100
Compound Interest = 2,500,100