What to do if time is in months eg 5 months,and we have find interest quarterly.then what to do

Asked by kirtigore63 | 14th Mar, 2020, 09:33: PM

Expert Answer:

If time is in months eg 5 months.
We will find interest for a month and then it will be multiplied by 3 to find interest quarterly.
for example : 
10% interest for 5 months then 10%/5 = 2% per month
For quarter it will be 2% × 3 = 6% quarterly

Answered by Sneha shidid | 16th Mar, 2020, 09:39: AM

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