Find the compound interest and the total amount after an hour if the i

1.	Find the compound interest and the total amount after an hour if the interest is compounded every ten minutes. principal =₹512 rate of interest =5% per minute total amount = ₹ compound interest ₹
Answer» Step-by-step EXPLANATION: Given Find the compound interest and the total amount after an hour if the interest is compounded every TEN minutes. principal =₹512 rate of interest =5% per minute total amount = ₹ compound interest ₹ We need to find the total amount and the compound interest. So given Principal P = 512 Rate of interest R = 5% per minute = 5 x 10 (interest for every 10 min) = 50 Now n = 60 / 10 = 6 So we have Amount A = P(1 + R / 100)^n = 512 (1 + 50/100)^6 = 512 (3/2)^6 = 5.2 (1.5)^6 = Rs 5832 Now Compound Interest = A – P = 5832 – 512 = Rs 5320 REFERENCE link will be brainly.in/question/6793190

Find the compound interest and the total amount after an hour if the interest is compounded every ten minutes. principal =₹512 rate of interest =5% per minute total amount = ₹ compound interest ₹

Answer»

Step-by-step EXPLANATION:

Given Find the compound interest and the total amount after an hour if the interest is compounded every TEN minutes. principal =₹512 rate of interest =5% per minute total amount = ₹ compound interest ₹

We need to find the total amount and the compound interest.
So given Principal P = 512
Rate of interest R = 5% per minute
= 5 x 10 (interest for every 10 min)
= 50
Now n = 60 / 10 = 6
So we have Amount A = P(1 + R / 100)^n
= 512 (1 + 50/100)^6
= 512 (3/2)^6
= 5.2 (1.5)^6
= Rs 5832
Now Compound Interest = A – P
= 5832 – 512
= Rs 5320

REFERENCE link will be

brainly.in/question/6793190

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Find the compound interest and the total amount after an hour if the interest is compounded every ten minutes. principal =₹512 rate of interest =5% per minute total amount = ₹ compound interest ₹

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