Question

Find the total amount and total interest after six months if the interest is compounded every quarter. Principal = ₹10{,}000 Rate of interest = 20 \%=20%equals, 20, percent per annum

Answer 1

Answer:

Amount = $11025

Interest = $1025

Step-by-step explanation:

Amount in a compound interest is given by

$A = P\left(1+\dfrac{R}{100}\right)^T$

where P is the principal, R is the rate and T is the time.

The interest is compunded quarterly i.e. 4 times a year. Hence its rate per quarter will be 20% ÷ 4 = 5%.

The principal is compunded for six months which is 2 quarters. Therefore, T = 2.

$A = 10000(1+\frac{5}{100})^2 = 10000(1.05)^2 = 11025$

The interest is A - P = 11025 - 10000 = $1025

Answer 2

Answer:

Total amount:idk

Interest:nvm

Step-by-step explanation: