Question

If ₹6000 is deposited for 2years at 4%per annum compound quality then find the time period and rate to compute compound interest

Answer 1

Answer:

Heya friend,

◆◆◆◆◆◆◆◆◆◆◆◆◆◆◆◆◆◆◆◆◆◆

Given that

P = ₹6,000

R = 4%p.a.

T = 2 years

Solution

When the interest is compounded quarterly

T = 4n

= 4 × 2

= 8 quarters

R = R/4

= 4/4 % per quarterly

= 1% per quarterly

Thanks

With regards@

Thanks

Hope it will help you