Compound Interest:
Let Principal = P, Rate = R% per annum, Time = n years.
When interest is compound Annually:
Amount = P(1 +R/100)n
When interest is compounded Half-yearly:
Amount = P(1 +(R/2)/100)2n
When interest is compounded Quarterly:
Amount = P(1 +(R/4)/100)4n
When interest is compounded Annually but time is in fraction, say 3(2/5) years.5
Amount = P(1 +R/100)3x(1 + 2/3R/100)
When Rates are different for different years, say R1%, R2%, R3% for 1st, 2nd and 3rd year respectively.
Then, Amount = P(1 +R1/100) (1 +R2/100)(1 + R3/100) .
Present worth of Rs. x due n years hence is given by:
Present Worth = x/(1 +R/100) .
Let Principal = P, Rate = R% per annum, Time = n years.
When interest is compound Annually:
Amount = P(1 +R/100)n
When interest is compounded Half-yearly:
Amount = P(1 +(R/2)/100)2n
When interest is compounded Quarterly:
Amount = P(1 +(R/4)/100)4n
When interest is compounded Annually but time is in fraction, say 3(2/5) years.5
Amount = P(1 +R/100)3x(1 + 2/3R/100)
When Rates are different for different years, say R1%, R2%, R3% for 1st, 2nd and 3rd year respectively.
Then, Amount = P(1 +R1/100) (1 +R2/100)(1 + R3/100) .
Present worth of Rs. x due n years hence is given by:
Present Worth = x/(1 +R/100) .
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