Question

A sum of rs 40000was lent for one year at 16%per annum. if the same sum is lent for the same time at the same rate rate percent but compounded half yearly how much more will the interest be

Answer 1

Given :
Principle amount P = 40,000
And
Rate r = 16%
Time t = 1 year

So ,

Simple interest = 40000 × 16 × 1100 = 400 × 16 = Rs. 6400

And

As interest compound half yearly we know formula , As :


Amount = P (1 + r2100)2t ,So
Compound money after 1 year compounded half yearly
So,
Amount = 40000 ( 1 + 16200)2 = 40000( 1 + 450)2 = 40000( 5450)2 = 40000 × 54 × 5450 × 50 = 16 × 54 × 54 = Rs. 46656
Then,

Compound interest = 46656 – 40000 = 6656

The more interest would be = 6656 – 6400 = Rs. 256

Answer 2

Answer:

ANSWER

For ,

N=1year

R=16 %

P=Rs40,000

We have S.I.=

100

PNR

=

100

40,000×1×16

=Rs6,400

When interest being compounded for half yearly, for 1 year

We have, N=2

And R=

2

16

=8 %

And Amount=P(1+

100

R

)

N

=40,000×(1+

100

8

)

2

=40,000×1.08

2

=Rs46,656

And C.I.=A−P=46,656−40,000=Rs6,656

So, C.I.−S.I.=Rs6,656−Rs6,400=Rs256

Answered By

ankita

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