Question

Find the difference between S. and C.I on Rs. 2000 for 3/2 years at 6% p.a compound interest
being reckoned half yearly,

Answer 1

Step-by-step explanation:

Given : P = Rs. 16000, R = 5 %, T = 3/2 years 

Simple Interest = (P*R*T)/100

= (16000*5*3)/(2*100)

Simple Interest = Rs. 1200 

Case 2

Compound Interest

Given : P = Rs. 16000, R = 5 % per annum and compounded half yearly so, rate of interest = 2.5 %

T = 3/2 years = 1 year and one half year = 3 half years

A = P (1 +r/100)ⁿ

= 16000 (1 + 2.5/100)³

= 16000 × 102.5/100 × 102.5/100 × 102.5/100

A = Rs. 17230.25

So, compound interest = 17230.25 - 16000 = Rs. 1230.25

Difference between compound interest and simple interest = 1230.25 - 1200 = Rs 30.25

Answer 2

Answer:

5.454 Be assured this is the right answer

Step-by-step explanation:

SI = P.R.T/ 100

or 2000 x 3 x 6/ 2 x 100

or 180

CI = A - P

CI = {2000 x (1 + 6/200)^2 x 3/2} - 2000

CI = 185.454

Therefore the difference is 5.454