Question

a sum is taken for 2 years at 16% p.a. if interest is compounded after three months, the number of times for which interest is charged in 2years​

Answer 1

Given:

Rate of interest is 16% and time period is 2 years.

To find:

The number of times for which interest is charged in 2 years​.

Solution:

1) It is given in the question that the interest is compounded after every three months.

2) So in one year, there are 12 months hence in a year four times the interest will be charged.

3) In 2 years 8 times the interest charged.

The number of times for which interest is charged in 2 years​ is 8.

Answer 2

Answer:

2 years 8 times int charged...