a sum is taken for two years 16% pa if interest is compounded after every three months. the number of times for which interest is charged in 2 years is
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Step-by-step explanation:
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.
If amount is taken for 2 year, then
4*2=8
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