Arif took a loan of ₹ 80000 from a bank. If the rate of interest is 10% pe annum. Find the difference in amounts he would be paying after 1 year 6 monrhs, if the interest is compounded annually and compounded half yearly?
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Answered by
4
first take out the interest for one year
P=(1+r /100) and then take out for half year.
this was for compound annually.
now for compounded half yearly
P(1+R/100)2n and take power as 3 .
you will get your answer
P=(1+r /100) and then take out for half year.
this was for compound annually.
now for compounded half yearly
P(1+R/100)2n and take power as 3 .
you will get your answer
Answered by
13
I hope this may help you
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kratika2305:
well explained
actually, 88000+4400 .
not 88000+44000
anyway, its great
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