Question

if ₹6000 is deposited for two years at 4% per annum compounded quarterly, then find the time period and rate to compute compound interest.

Answer 1

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@

Tanisha

Answer 2

in this question;

principal=6000rs

rate=4%

time =2 years

then,compounded quaterly;

principal=6000

time=2×4=8 quaterly

rate=R/4%=4/4%

= 1%