Question

A man borrowed Rs 1,00,000 for 2 years at 10 % p.a for 1 and a half years.
If interest is compounded quarterly then what will be the rate of interest
per quarter?​

Answer 1

Answer:

2.5 %

Step-by-step explanation:

P= Rs 1,00,000

T= 2 years

R= 10 % p.a

for 1 and a half years.

If interest is compounded quarterly then

the rate of interest per quarter = R/4

= 10/4%

= 2.5 %

the rate of interest per quarter= 2.5 %