Question

compou 5. Anil deposited ? 20000 in a bank at 10% per annum. Find the difference in the compound interest after 1 13 1 years if the interest is compounded ii. half yearly. i. yearly​

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Madhu deposited Rs. 20000 in a bank at 10% per annum. Find the difference in the compound interest after 1

2

1

years if the interest is compounded half-yearly.

Medium

Solution

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Madhu diposited Rs 20000 in a bank,

Rate=10% per annum compounded half yearly,

Time=

2

3

years.

We know that,

Total amount= Principle+CI

For interest compounded half yearly,

Total amount =P(1+(

200

R

))

2n

=20000(1+(

200

10

))

2×

2

3

=

200×200×200

20000×210×210×210

=22050

Interest=Amount−Principle

=22050−20000

=2050 Rs