18. An amount is lent at a nominal rate of 4.5% per annum compounded quarterly. What would
be the gain in rupees over when compounded annually.
(a) 0.56
(c) 0.76
(b) 0.45
(d) 0.85
Answers
Answered by
2
Answer:
0.76
Step-by-step explanation:
Let the principal be Rs.1 and rate is 4.5% per annum
Compounded Annually:-
A=P(1+
100
r
)
n
Compounded Quaterly:-
A=P(1+
400
r
)
4n
A=1(1+
100
4.5
)
1
=
100
104.5
=1.04500
A=1(1+
400
4.5
)
4
=(
400
404.5
)
4
=1.04576
Gain =0.00076
Now, gain for Rs.1=0.00076
Gain for Rs.1000=0.76
Answered by
0
Step-by-step explanation:
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