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5. Anil deposited20000 in a bank at 10% per annum. Find the differenceyears if the interest is compoundedin the compound interest after 1ii. half yearly.i. yearly |
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Answer» Compound interest after 1 and a half years is interest is compounded yearly = P[(1 + r/n)^nt] - P = 20000[(1 + 0.1/1)^1.5] - 20000 = Rs 12210.2Compound interest after 1 and a half years is interest is compounded half yearly= P[(1 + r/n)^nt] - P = 20000[(1 + 0.1/2)^(1.5X2)] - 20000 = Rs 3152.5Difference = Rs (12210.2 - 3152.5) = Rs 9057.7 |
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