Arif took a loan of Rs80000 from a bank.If the rate of interest is 10% p.a.,find the difference in amounts he would be paying after 1and1/2 years, if the interest is compounded annually and compounded half yearly.
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WHEN INTT. COMPOUNDED ANNUALLY
=(80000)(110/100)(105/100)=92400
WHEN INTT COMPOUNDED H/YLY
=(80000)(105/100)(105/100)(105/100)=92610
DIFFERENCE=92610-92400=210
=(80000)(110/100)(105/100)=92400
WHEN INTT COMPOUNDED H/YLY
=(80000)(105/100)(105/100)(105/100)=92610
DIFFERENCE=92610-92400=210
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