What will be the amount of the sum Rs 1200 for [Math Processing Error]112 a year at 40% interest compounded quarterly?Rs2186Rs 2062Rs 2278Rs 2126
Question
What will be the amount of the sum Rs 1200 for a year at 40% interest compounded quarterly?
- Rs 2186
- Rs 2062
- Rs 2278
- Rs 2126
Solution
It seems like there's a mistake in your question as "[Math Processing Error]112 a year" is not clear. However, I can show you how to calculate the compound interest if you provide the correct time period.
The formula for compound interest is A = P(1 + r/n)^(nt), where:
- A is the amount of money accumulated after n years, including interest.
- P is the principal amount (the initial amount of money).
- r is the annual interest rate (in decimal).
- n is the number of times that interest is compounded per year.
- t is the time the money is invested for in years.
In your case:
- P = Rs 1200
- r = 40/100 = 0.4 (since it's 40%)
- n = 4 (since it's compounded quarterly)
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