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Calculate compound interest on 1000 over a period of 1 year at 10% per annum, if​

Answer» GIVEN: P=1000,R=10% per annum = 410 % per quarter (1 year is 4 QUARTERS) =2.5T=1 year=4 quartersCI=P(1+ 100R ) T −P=1000(1+ 1002.5 ) 4 −1000CI=1103.8−1000=103.8∴ interest over 4 quarters will be Rs.103.8


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