Question

if rupees 6000 is deposited for 2 years at 4% per annum compounded quarterly, then find the time period and the rate to compute compound interest

Answer 1

Answer:

The time period is 8 quarters and rate is 1% per quarterly.

Step-by-step explanation:

Given : If rupees 6000 is deposited for 2 years at 4% per annum compounded quarterly.

To find : The time period and the rate to compute compound interest?

Solution :

Compounded quarterly means number of compounding in one year the value is 4.

Now, If we apply it in time

Time is 2 year became

$t=4n\\t=4\times 2\\t=8$  quarterly

Now, Apply in rate

Rate is 4% per annum,

$R=\frac{r}{4}\%\\\\R=\frac{4}{4}\%\\\\R=1\%$

Therefore, The time period is 8 quarters and rate is 1% per quarterly.

Answer 2

Answer:

Step-by-step explanation:

Given : If rupees 6000 is deposited for 2 years at 4% per annum compounded quarterly.

To find : The time period and the rate to compute compound interest?

Solution :

Compounded quarterly means number of compounding in one year the value is 4.

Now, If we apply it in time

Time is 2 year became

 quarterly

Now, Apply in rate

Rate is 4% per annum,

Therefore, The time period is 8 quarters and rate is 1% per quarterly