Question

Find the difference between the compound interest compounded yearly and half-yearly on ₹10000 for 18 months at 10% per annum.

Answer 1

First year- principle interest at 10% year end amount = ₹100.00
₹ 10.00
₹ 110.00
Second year - principles interest at 10% year end amount =₹ 100.00
₹ 10.00
₹(110+10)= ₹120
Third year - principles interest at 10% year end amount = ₹ 100.00
₹ 10.00
₹(120+10)=₹130

Answer 2

to find the 10000 for 18 months at 10 % per annum is 180000