Question

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

Answer 1

Answer:

Amount after 2 years= 6000(1+4/400)^8

since it is quarterly rate=4/400 because there are 4 quarters in 1 year.

In 2 years there will be 8 quarters

Interest =6000(1.01)^8-6000=6000{(1.01)^8-1}