7 Sudhir lent 2000 at compound interest at 10%
7.
payable yearly, while Prashant lent 2000 at
compound interest at 10% payable half-yearly.
Find the difference in the interest received by
Sudhir and Prashant at the end of one year.
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Correct answer must be 5
Because effective rate for Sudhir is 10%
For Prashant, it is 10.25%
Difference - 0.25%
So, 0.25% of 2000 =5
Because effective rate for Sudhir is 10%
For Prashant, it is 10.25%
Difference - 0.25%
So, 0.25% of 2000 =5
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