Question

anamika took a loan of rs 40000 from a branch of bank.the rate of interest is 5% per annum .find the difference in amount she would paying after 1½ years if the interest is compounded annually and compounded half yearly.

Answer 1

$40000 \times 5 \times 3 \div 100 \div 2$
$200 \times 5 \times 3$
$3000$

Answer 2

Answer:

38.43 rupees

Step-by-step explanation:

Since, the amount formula in compound interest is,

$A=P(1+\frac{r}{n})^{nt}$

Where,

P = principal amount,

r = rate of interest annually,

n = number of periods in a year,

t = number of years,

If P = 40000, r = 5% = 0.05,

Then, the difference in amount she would paying after 1½ years if the interest is compounded annually and compounded half yearly.

$d=40000(1+\frac{0.05}{2})^3-40000(1+\frac{0.05}{1})^\frac{3}{2}$

$=40000((1.025)^3-(1.05)^\frac{3}{2})$

$\approx 38.43\text{ rupees}$