Arun look a lone of $R s . 390625$ from Kuber Finance. If the company charges interest at $16$ % per annum, compound quarterly, what amount will charge his debit after one year?

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Solution

Rate $= 16 %$ per annum
$= 8 %$ per half-year $= 4$ per quarter year

Time $= 1$ year $= 2$ half year
$= 4$ quarter years
Amount $= P {(1 + \frac{R}{100})}^{n}$

$= 390625 {(1 + \frac{4}{100})}^{4}$

$=$ Rs. $456976$

CI = Amount - Principal
$= 456976 - 390625$
$= R s . 66351$

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Arun look a lone of Rs. 390625 from Kuber Finance. If the company charges interest at 16% per annum, compound quarterly, what amount will charge his debit after one year?

Rate =16% per annum =8% per half-year =4 per quarter year Time =1 year =2 half year =4 quarter years Amount =P(1+R100)n=390625(1+4100)4= Rs. 456976CI = Amount - Principal =456976−390625=Rs.66351

Arun look a lone of $R s . 390625$ from Kuber Finance. If the company charges interest at $16$ % per annum, compound quarterly, what amount will charge his debit after one year?

Rate $= 16 %$ per annum
$= 8 %$ per half-year $= 4$ per quarter year

Time $= 1$ year $= 2$ half year
$= 4$ quarter years
Amount $= P {(1 + \frac{R}{100})}^{n}$

$= 390625 {(1 + \frac{4}{100})}^{4}$

$=$ Rs. $456976$

CI = Amount - Principal
$= 456976 - 390625$
$= R s . 66351$