Question

$\huge{\bold{Ques :}}$ If ₹6000 is deposited for two years at 4% p.a compounded quarterly, then find the time period and rate of compute compound interest.


$<marquee>$


$\huge\red{\mathcal{Thanks\: all}}$

Answer 1

⭐⭐⭐⭐⭐ ANSWER ⭐⭐⭐⭐⭐

==================================

➡ We know that when the interest is compounded quarterly, then there are four conversion periods in a year.

➡ So, 1 year = 4 conversion periods.

➡ 2 year = (4×2) conversion periods = 8 conversion periods or 8 quarters.

➡ And, Quaterly rate = (4×1/4)% = 1%

➡ Thus, no difficulties or lengthy calculations are there in solving this question.

➡ In this question, there is also no need to find the amount.

==================================

⭐⭐⭐ ALWAYS BE BRAINLY ⭐⭐⭐

==================================

Answer 2

Given :

Principal ( P ) = ₹ 6,000

Rate of interest ( r ) = 4% quarterly

Time period ( t ) = 2 years

⭐ The rate of interest is compounded quarterly .

⭐ This implies that rate of interest will be charged on the principal every quarter or 1/4 th of a year

⭐ Simply in a year there would be 4 times that the interest will be charged .

⭐ Given time t = 2  years

⭐ conversion periods = 4 t [ 4 times in a year ]

==> periods = 4 × 2 = 8 times

⭐ To calculate the rate

==> r = 4%

In a year there will be 4 conversion periods

So rate = 4% × 1/4

            = 1%

$\underline{\underline{\underline{\underline{\underline{\underline{\huge{\textsf{ANSWERS}}}}}}}}$

The rate of interest is 1%

The number of time periods is 8

Hope it helps ;-)

________________________________________________________________________________