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What Is The Difference Between The Compound Interests On Rs. 5000 For 1 1/2 Years At 4% Per Annum Compounded Yearly And Half-yearly? |
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Answer» C.I. when interest compounded yearly=RS.[5000*(1+4/100)(1+1/2*4/100)] = Rs. 5304. C.I. when interest is compounded half-yearly=rs.5000(1+2/100)^3 = Rs. 5306.04 DIFFERENCE = Rs. (5306.04 - 5304) = Rs. 2.04. C.I. when interest compounded yearly=rs.[5000*(1+4/100)(1+1/2*4/100)] = Rs. 5304. C.I. when interest is compounded half-yearly=rs.5000(1+2/100)^3 = Rs. 5306.04 Difference = Rs. (5306.04 - 5304) = Rs. 2.04. |
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