Calculate compound interest on a sum of ₹ 64000 compounded quarterly for 1 year at a rate of 10%?

Explanation

Rate per quarter = \frac{10}{4} = 2.5\%, time = 1 \times 4 = 4 quarters. CI = P(1 + \frac{R}{100})^T - P = 64000(1 + \frac{2.5}{100})^4 - 64000 \approx 6644.025.

Related questions on Arithmetic

• A car owner or a man buys petrol at ₹ 8, ₹ 9 and ₹ 11 per litres for three successive years. What approximately is the average cost per litr...
• In a library 5 per cent books are in English; 10 per cent of the remaining are in Hindi and 15 per cent of the remaining are in Sanskrit. Th...
• (30\% \text{ of } 6500) \div 26 \div 25 = ?
• CP of 30 kg of rice is same as the SP of “X” kg of wheat. If shopkeeper makes profit of 20%, find X?
• Two guns are fired from the same place at an interval of 15 min. A person approaching the place observes that 14 min 30 sec have elapsed bet...