Question

A sum is lent for 1 year at 16% p.a.if interested is compound after every 3 months how many times will interest be charged in one year​

Answer 1

Answer:

To strictly answer the question, if interest is compounded every 3 months, in onee year, interest will be charged 4 times (12/3 = 4).

Satya Jain went a step ahead and also calculated the interest amounts in each quarter, though not asked for in the question.