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aalyn [17]
3 years ago
9

Find the compound interest on Rs. 2000 for one year at the rate of '20%' per annum. If theinterest compounded quarterly.​

Mathematics
1 answer:
trasher [3.6K]3 years ago
3 0

Given:

Principal = Rs. 2000

Rate of interest = 20% p.a. compounded quarterly.

Time = 1 year

To find:

The compound interest.

Solution:

Formula for amount:

A=P\left (1+\dfrac{r}{n}\right)^{nt}

where,

P = Principal

r = Rate of interest

t= Time

n = number of times interest compounded in an year.

Putting P=2000, r=0.2, n=4 and t=1, we get

A=2000\left (1+\dfrac{0.2}{4}\right)^{4(1)}

A=2000\left (1.05\right)^{4}

A=2000\left (1.21550625\right)

A=2431.0125

Now, the compound interest is

C.I.=A-P

C.I.=2431.0125-2000

C.I.=431.0125

Therefore, the compound interest is Rs 431.0125.

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