Question

find the difference between the compound interest on 160000for one year at20% annum when compounded half yearly and quarterly

Answer 1

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Explanation:

Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.

 
 

CJ. = Rs. (18522 - 16000) = Rs. 2522


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