Question

find the difference between the compound interest on ₹25, 000 at 16% per annum for six months compound Half-yearly and quarterly respectively. which option is better? step by step answer, please give the correct answer.​

Answer 1

Step-by-step explanation:

Mark me brainliests please

Answer 2

Answer:

₹40

Step-by-step explanation:

1st we will compound this half yearly

principal= ₹25000

rate =16/2%=8%

time =6months which is equal to 1 half year

so Amount=

$p(1 + { \frac{r}{100} })^{n} \\ = 25000( {\frac{100 + 8}{100}) }^{1} \\ = 25000 \times \frac{108}{100} = 27000$

compound interest =Amount-Principal

=27000-25000=2000

now let's compound quarterly

principal =25000

rate=16%=4%

time=6months=2 quarters

so Amount =

$p(1 + { \frac{r}{100} })^{n} \\ 25000 ( {\frac{100 + 4}{100} )}^{2} \\ = 25000 \times \frac{104}{100} \times \frac{104}{100} = 27040$

compound interest =amount-Principal

27040-25000=2040

deference between compound interests =2040-2000=40

₹40 is your answer