Question

A sum is taken for 1 year at 16% per annum. if interest is compounded at every three months , how many times will interest will be charged in one year​

Answer 1

Answer:

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Step-by-step explanation:

Answer 2

TIPS

If the rate of interest is R% per annum, Time is T yr and the interest compound quarterly, then rate will be one- fourth and time will be four times.

Sol. Given, the interest is compounded after every three months i.e. quarterly.

For quarterly, rate

= 16% per annum

$= \frac{16}{4} \% \\ = 4\%$

and time = 1 yr i.e. 1×4 = 4 yr

Hence, interest will be charged in one year in 4 Times.