Question

Q4. Mr. Ashok opens a recurring account in the bank in which he has to deposit Rs
3,00,000 quarterly till 4 years. The rate of interest is 12% p.a which is compounded
quarterly. Determine his account balance at the end of 4 years

Answer 1

Answer:

88% p.a. which is compounded quarterly.

Answer 2

Answer:

90% p.a. which is composed quarterly.