Question

find compound interest and amount,rs-4000 for 2 years at the interest rate of 8% per annum

Answer 1

Answer:

Step-by-step explanation:

Compound interest when compounded half yearly:

        interest rate for 6 months = 8/2 = r = 4%

        number of times compounded = n= 4 in 2 years

        C I = P (1+ r/100)^n - 4000  = 4, 000 (1 + 0.04 )^4 - 4000

 

Compound interest when compounded yearly

        interest rate for 12 months = r = 8%

        number of times compounded = n= 2 in 2 years

        C I = P (1+ r/100)^n - 4000  = 4, 000 (1 + 0.08 )^2 - 4000

 

 Difference = Rs 4,000 [ 1.04^4  - 1.08^2 ]

                = Rs 4, 000 * 0.00345856 = Rs 13.83 

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