Discussion :: Compound Interest
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What is the difference between the compound interests on Rs. 5000 for 112 years at 4% per annum compounded yearly and half-yearly?
Answer : Option A
Explanation :
C.I. when interest compounded yearly =Rs= [5000∗[1+4100]∗[1+1/2∗4100)]
Rs=[5000∗2625∗5150]
Rs=5304.
C.I. when interest compounded half-yearly =Rs.[5000(1+2100)3]
=RS.[5000∗5150∗5150∗5150]
=RS.5304.04
Difference = Rs. (5306.04 - 5304) = Rs. 2.04
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