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4 Find the difference between compound interest and simple interest on a sum of ? 64,000 at the rate of 29% pa unnpounded semi-annually for years for 1,1/2 |
| Answer» CORRECT option isBRs. 10FOR the first year, Simple Interest = COMPOUND Interest = 100PTR I 1 = 1004000×1×5 =200For the second year, simple interest remains same and compund interest will be the simple interest on new amount=4000+200=4200Compound Interest for second year = 1004200×1×5 =210Simple Interest for second year=I 1 =200Difference 220−210=Rs.10Was this answer helpful? | |