Question

40. A sum is taken for two years at 16% per annum. If interest is .compounded after every three months,
the number of times for which interest is charged in 2 yrs is
a) 8​

Answer 1

Answer:

Step-by-step explanation:The correct answer is option (a).

We know that, the rate of interest is considered after every three months.

In the same way, the time period for amount in a year will four times.