find the compound interest on a loan of Rs. 1000 at 10percent per annum for 3 year compounded yearly . Also calculate simple interest .Find the difference between two kinds of interest charged .
Answers
Answered by
1
Step-by-step explanation:
As interest is compounded half yearly, so there will be 2 conversion periods in a year.
So, n=2
Rate of interest for 6 months rate =
2
1
×10%=5%
A=P(1+
100
R
)
n
A=1000(1+
100
5
)
2
=1000(
100
105
)
2
=Rs.1102.50
Compound interest =A−P=1102.50−1000=Rs.102.50
Answered by
0
Answer:
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Step-by-step explanation:
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