Question

find the difference between compound interest and simple interest on the sum of rupees 64000 20% per annum compounded semi annually for 1 and half years. can someone tell me the ans for this​

Answer 1

Answer:

simple interest= 19200

compound interest= 21184

Step-by-step explanation:

p=64000. I=20 per year

I for 1/2 year =10%

time T=1 1/2=3/2 years

simple intrest

I =PTR/100

$= \frac{64000 \times \frac{3}{2 } \times 20 \: }{100}$

$simple \: \: intrest = 19200$

compound interest

half yearly 10%

first half year= 6400

now P= 70400

Second half year I = 7040

NOW P= 77440

Next half year I = 7744

Total compound interest=

6400+7040+7744

= 21184.