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When a polarized polychromatic beam passes through a quarter-wave retarder, the constituent spectral components suffer different changes in the state of polarization. As a result, when the beam passes through an analyzer, the intensity of the resultant beam changes, depending on the orientation of the analyzer, state of polarization of the input beam, spectral and spatial intensity distribution of the source and the wavelength. dependent retardance of the quarter-wave retarder. The intensity variation of the resulting beam is theoretically and experimentally observed, with the variation of the azimuthal angle of the analyzer for film-type chromatic and prism-type achromatic quarter-wave retarders. The spectral performances of achromatic retarders are generally evaluated by measuring, retardances at discrete wavelengths by using a monochromatic beam of light over the wavelength range of interest. In this study, a simple method is used for computing the fractional nonlinear polarization (FNLP) from theoretically and experimentally obtained intensity variations for evaluating the spectral performance of both achromatic and chromatic quarter-wave retarders operating over a broad spectral range in the visible region using a polychromatic beam of light. FNLP variation is also shown for a film-type chromatic quarter-wave retarder using a monochromatic source of light. The experimentally obtained values are compared with theoretical values and a good agreement is observed. The applications of the method for the performance evaluation of quarter- wave retarders are discussed. [ABSTRACT FROM AUTHOR]