Question

Anamika took a loan of rupees 40000 from a branch of a bank the rate of interest is 5% per annum find the difference in amount she will be paying after 1whole 1/2 years if the interest is compounded annually and compounded half yearly
plz help me with the full solution of this ques​

Answer 1

Answer:

38.431783

Step-by-step explanation:

Case 1)

Principal = Rs.40000

Rate of interest = r = 5% = 0.05

Time = 18 months =

The interest is compounded annually

No. of of compounds per year = 1

Formula :

Case 2)

Principal = Rs.40000

Rate of interest = r = 5% = 0.05

Time = 18 months =

The interest is compounded half yearly

No. of of compounds per year = 2

Formula :

Difference in amount=43075.625-43037.193217=38.431783

Hence the difference in amount she would be paying after 18 months if the interest is compounded annually and compounded half yearly is 38.431783