1. Find the difference between the simple interest and compound interest on 64,000 for 3÷2 years
20% per annum, compound interest being reckoned semi-annually.
Answers
Answer:
hey dear ...
Given Principal =64000.
Rate of interest = 20% P.A.
n = 1.5 years.
We know that A = P(1 + r/100)^n
When the interest is compounded semi-annually.
A = P(1 + r/200)^2n
= 64000(1 + 20/200)^3
= 64000(11/10)^3
= 64000 * 1.331
= 85184.
We know that CI = A - P
We know that CI = A - P = 85184 - 64000
We know that CI = A - P = 85184 - 64000 = 21184.
We know that SI = PRT/100
= 64000 * 20 * 3/100 * 2
= 64000 * 60/200
= 19200.
given ,
Difference between Simple Intrest and Compound Intrest = 21184 - 19200
= 1984.
↪️hope it's helpful for you . ↩️
Answer:
hey dear ,
`Given Principal =64000.
Rate of interest = 20% P.A.
n = 1.5 years.
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We know that A = P(1 + r/100)^n
When the interest is compounded semi-annually.
A = P(1 + r/200)^2n
= 64000(1 + 20/200)^3
= 64000(11/10)^3
= 64000 * 1.331
= 85184.
given ,
We know that CI = A - P
= 85184 - 64000
= 21184.
We know that SI = PRT/100
= 64000 * 20 * 3/100 * 2
= 64000 * 60/200
= 19200.
Difference between Simple Intrest and Compound Intrest = 21184 - 19200
answer = 1984.