Question

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7. Find the difference between the compound interest and simple interest on * 1,20,000 for 3/2 years at the rate of 4% per annum


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Answer 1

Answer:

Difference between compound interest and simple interest is 96

step by step explanation:-

find interest for 3/2 means for 1.5 years @ 4% p.a

simple interest for 1 year =1,20,000×4%=4,800

simple interest for 0.5years =4,800/2=2,400

total simple interest=4,800+2,400=7,200

compound interest for 1 year=1,20,000+4%=1,24,800

compound interest for 0.5 years [interest charge for half year will be 2%(4%÷2)]= 1,24,800+2%=1,27,296

total compound interest= 1,27,296-1,20,000=7,296

Difference between compound interest and simple interest = 7,296-7,200=96 answer

Answer 2

Answer:

Hey ,the question you have answered is wrong please correct it and resend