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
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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.
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