Class : B.Com 1 year (CA)
Subject : Business Mathematics
Teacher's name: Dr. Asmita Jain
Topic : Compound interest
Find out the compound interest of 2 years on rs.100000 at 8% per annum, when the interest is payable quarterly."
Given:
• Principal (P) = ₹1,00,000
• Rate of interest = 8% per annum
• Compounding = Quarterly
• Time = 2 years
CI=1,17,166−1,00,000
=₹17,166
Compound Interest = ₹17,166
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