Find the difference between compound interest on 8000 for 1.5 years
compounded annually and semi-annually.
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Answer:
Compound Interest for 3/2 year annually is :P(1+R/100)^T
8000(1+10/100) ^3/2 (3/2=1.5)
8000(11/10)^1.5
=9229.5
CI=9229.5-8000
=1229.5 Rupees
Compound Interest if calculated Semi Annualy=P(1+R/200)^2T
8000(1+10/200)^2×1.5
8000(1+1/20)³
8000(21/20)³
=9261 rupees
CI=9261-8000=1261 rupees
Difference=1261-1229.5= 31.5 Rupees
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