find the difference between simple interest and compound interest for 1½ yes at 12.5% per annum for a sum of 24000 when the interest is is compounded half yearly
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Answer: 2.04
Explanation:
C.I. when interest
compounded yearly=rs.[5000*(1+4/100)(1+1/2*4/100)]
= Rs. 5304.
C.I. when interest is
compounded half-yearly=rs.5000(1+2/100)^3
= Rs. 5306.04
Difference = Rs. (5306.04 - 5304) = Rs. 2.04
Step-by-step explanation:
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