Question

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 1

Answer:

Correct option is

B

Rs. 10

For the first year, Simple Interest = Compound Interest =

100

PTR

I

1

=

100

4000×1×5

=200

For the second year, simple interest remains same and compund interest will be the simple interest on new amount=4000+200=4200

Compound Interest for second year =

100

4200×1×5

=210

Simple Interest for second year=I

1

=200

Difference 220−210=Rs.10

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