AI Mentor

Check Your IQ

Free Expert Demo

Try Test

Courses

Dropper NEET Course Dropper JEE Course Class - 12 NEET Course Class - 12 JEE Course Class - 11 NEET Course Class - 11 JEE Course Class - 10 Foundation NEET Course Class - 10 Foundation JEE Course Class - 10 CBSE Course Class - 9 Foundation NEET Course Class - 9 Foundation JEE Course Class -9 CBSE Course Class - 8 CBSE Course Class - 7 CBSE Course Class - 6 CBSE Course

Offline Centres

Find the compound interest on Rs. 64000 for 1 year at the rate of $10 %$ per annum compounded quarterly.

see full answer

High-Paying Jobs That Even AI Can’t Replace — Through JEE/NEET

🎯 Hear from the experts why preparing for JEE/NEET today sets you up for future-proof, high-income careers tomorrow.

An Intiative by Sri Chaitanya

Rs. 6924.03

Rs. 6624.03

Rs. 6644.03

Rs. 6844.03

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

Given,

Principal (P) = Rs 64000 Rate (R) = 10 % p .a . Time (T) = 1 year

Compound interest can be evaluated by Amount - Principal,
Also rate of interest compounded quarterly,

⇒ 104 % per quarter year

Time (T) will also be taken quarterly that is

T = 4

quarters,
The formula to calculate the amount is given by

A = P 1 + R 100 n ⋅ ⋅ ⋅ ⋅ ⋅ ⋅ (1)

Where

A =

Amount,

P =

Principal,

R =

Rate,

n =

Time.
Substitute the given value in equation (1) and solve for amount A,

A = P 1 + R 100 n ⇒ A = 64000 1 + 10400 4 ⇒ A = 64000 1 + 140 4 ⇒ A = 6400041404

A =

Rs. 70644.03
Therefore,
The amount after 4 quarter Rs. is

A =

Rs. 70644.03
Now, compound interest (CI) is,

C I = A − P ⇒ C I = 70644.03 − 64000 ⇒ C I = Rs 6644 .03

Thus, the compound interest is Rs. 6644.03.
Therefore, option (1) is correct.

Watch 3-min video & get full concept clarity

courses

No courses found

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Online Course for IIT JEE

Best Online Course for NEET

Best Online Course for CBSE

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Get Expert Academic Guidance – Connect with a Counselor Today!