Anif took a loan of 80,000 from a bank. If the rate of interest is 10% per annum, find the
difference in amounts he would be paying after 1 years, if the interest is compounded
annually and compounded half yearly.
Answers
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19
Answer:
Rs 200
Step-by-step explanation:
amount (annually)= 80,000(1+ 10/100)^1
= Rs 88000
amount (half yearly)
= 80,000(1+ 5/100)^2
= Rs 88200
difference
=88200-88000= Rs 200
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