Question

manu took a loan of Rs 5000 for one year at 12%per annum compounded quarterly .How much he has to pay after one year.​

Answer 1

Answer:

Amount pay after one year for compounded quarterly = Rs 5627.54

Step-by-step explanation:

Given as,

Manu took loan of Rs 5000 , So, Principal = Rs 5000

The rate of interest applied = 12% per annum compounded quarterly

The loan took for period of year = one

Now from the compounded method :

For compounded quarterly

Amount = principal $(1 + \frac{Rate}{4\times 100})^{4\times Time}$

Or, Amount = Rs 5000 $(1+ \frac{12}{4\times 100})^{4}$

Or, Amount = 5000 $(\frac{103}{100})^{4}$

Or, Amount = 5000 × 1.1255

∴ Amount = Rs 5627.54

Hence , The amount which Manu pay after one year at 12% per annum compounded quarterly is Rs 5627.54  Answer