Question

5. Anil deposited ? 20000 in a bank at 10% per annum. Find the dif
in the compound interest after 11 years if the interest is compour​

Answer 1

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Step-by-step explanation:

P = 20000

R = 10 % per annum

= 5 % 6 monthly

Compound interest in 1.5 years if compounded 6 monthly

1.5 years = 3 * (6 months)   , R = 5 %

Interest = 20000 (1 + 5/100)³  - 20000

= 3,152.5  Rs

if Compounded Annualy

interest for 1 st year

= 20000 * 10 * 1/100

= 2000

Now Amount become = 20000 + 2000 = 22000

Interest for next 6 months = 22000 *  10 * (1/2) / 100  = 1100

Interest = 2000 + 1100  = 3100 Rs

Difference = 3152.5 - 3100  = Rs 52.5