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 2 & 3/5 years.
Amount = P* [1 +((R)/100)]2 * [1 +((3R/5)/100)]
When Rates are different for different years, say A%, B%, C3% for 1st, 2nd and 3rd year respectively.
Then, Amount = P* [1 +(A/100)] * [1 +(B/100)] * [1 +(C/100)]
Present worth of Rs. x due n years hence is given by:
Present Worth = [x/(1 + (R/100))]
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