Question

Find the difference between simple and compound interest on
(1) Rs. 1000 at the rate of 8% pa for 2 year 9 months.​

Answer 1

Answer:

Here's your answer

Step-by-step explanation:

We know,

P(1+

100

R

)

t

Rate has been halved because interest is compounded half yearly and for same reason time has been doubled.

Therefore

=10000(1+

100

4

)

2

=10000×

25

26

×

25

26

=10816

So, interest is 10816−10000=Rs 816