Q. 15

Out of the four options, only one is correct. Write the correct answer.

A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is
A. 8

B. 4

C. 6

D. 9

Answer :

Since, rate of interest is calculated after every three months. Similarly, the time period for amount in a year will 4 times.

If amount is taken for 2yr, means 4 × 2 = 8 times charged in 2 yr.

Hence, option (a) is correct.

Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Related Videos
Quiz | Comparing Quantities30 mins
Quiz | Calculating Compound Interest Really Compound?46 mins
Foundation | Direct & Inverse Proportions57 mins
Quiz | Percentage35 mins
Quiz | Deciding the Business Future with Profit and Loss54 mins
One Step Ahead of Simple Interest44 mins
Make a Solid Grip on Ratios36 mins
Quiz on Profit, Loss and Discount23 mins
Quiz | Taxes, Discount and CI45 mins
Recalling Ratios and Proportions45 mins
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
view all courses