Question

A sum is taken for two years at 16% per annum. If the interest is compounded half yearly, then how many times was the interest charged in two years?​

Answer 1

Answer:

8

Rate of interest is compounded after every three months. Thus, the time period for amount in a year will be 4 times. If amount is taken for 2 year, then 4 × 2 = 8 times charged in 2 year.Read more on Sarthaks.com - https://www.sarthaks.com/857410/a-sum-is-taken-for-two-years-at-16-p-a-if-interest-is-compounded-after-every-three-months

Step-by-step explanation:

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