Question

Anil deposited ₹20000 in a bank at 10% per annum. Find the difference in the compound interest after 1,1/2 years if the interest is compounded (¡) yearly and (¡) half yearly​

Answer 1

Step-by-step explanation:

Madhu diposited Rs 20000 in a bank,

Rate=10% per annum compounded half yearly,

Time=23 years.

We know that,

                Total amount= Principle+CI

For interest compounded half yearly,

Total amount =P(1+(200R))2n=20000(1+(20010))2×23=200×200×20020000×210×210×210=22050

Interest=Amount−Principle=22050−20000=2050 Rs