find the difference between simple and compound interest on a sum of ₹64000 at the rate of 20% p.a. compounded semi-annually for 1 1/2
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Given Principal =64000.
Rate of interest = 20% P.A.
n = 1.5 years.
We know that A = P(1 + r/100)^n
When the interest is compounded semi-annually.
A = P(1 + r/200)^2n
= 64000(1 + 20/200)^3
= 64000(11/10)^3
= 64000 * 1.331
= 85184.
We know that CI = A - P
= 85184 - 64000
= 21184.
We know that SI = PRT/100
= 64000 * 20 * 3/100 * 2
= 64000 * 60/200
= 19200.
Difference between Simple Intrest and Compound Intrest = 21184 - 19200
= 1984.
Hope this helps!
Rate of interest = 20% P.A.
n = 1.5 years.
We know that A = P(1 + r/100)^n
When the interest is compounded semi-annually.
A = P(1 + r/200)^2n
= 64000(1 + 20/200)^3
= 64000(11/10)^3
= 64000 * 1.331
= 85184.
We know that CI = A - P
= 85184 - 64000
= 21184.
We know that SI = PRT/100
= 64000 * 20 * 3/100 * 2
= 64000 * 60/200
= 19200.
Difference between Simple Intrest and Compound Intrest = 21184 - 19200
= 1984.
Hope this helps!
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