Ajay lent rupees 2000 at compound interest as 10% payable yearly Dhiraj lent rupees 2000 at compound interest at 10% payable half-yearly . find the difference in the interest received by Ajay and Dhiraj at the end of one year.
Answers
Given:
(i) Ajay lent 2000 Rupees at compound interest at 10% payable yearly.
(ii) Dhiraj lent 2000 Rupees at compound interest at 10 percent payable half yearly.
To find:
(i) The difference in the interest received by Ajay and Dhiraj at the end of one year.
Solution:
We know,
Amount (A) in CI is given as:
A = P(1 + r/n)^(nt)
P is the Principal money
R is the rate percentage
t is time period
n is number of times interest is compounded per unit t
For ajay,
A = 2000(1 + 0.10)^1
= 2000(1.1)
= Rs 2200
CI = A-P
= Rs (2200-2000)
= Rs 200
For Dhiraj,
A = 2000(1 + 0.10/2)^(1*2)
= 2000(1.05)^2
= Rs 2205
CI = A-P
= Rs (2205-2000)
= Rs 205
Difference in interests = Rs 205- Rs 200
= Rs 5
Rs 5 is the answer.
Answer:
Step-by-step explanation:
Ajay lent rupees 2000 at compound interest as 10% payable yearly Dhiraj lent rupees 2000 at compound interest at 10% payable half-yearly . find the difference in the interest received by Ajay and Dhiraj at the end of one year.