find the difference between the compound interest on Rs 120000 for 1 year at 20% per when compounded half yearly and quarterly
Answers
Answered by
5
Solution :
Here, P = $12,000, R = 20% and n = 2 years.
Amount after 2 years = P ( 1 + r/2) 2n
= 12,000 ( 1 + 0.20/2) 2 x 2
= 12,000 ( 1 + 0.1) 4
= 12,000 (1.1) 4
= 12,000 x 1.4641
Amount = $ 17569.20
∴ C.I = A - P
C.I = 17569.20 - 12000
C.I = $ 5569.20
Here, P = $12,000, R = 20% and n = 2 years.
Amount after 2 years = P ( 1 + r/2) 2n
= 12,000 ( 1 + 0.20/2) 2 x 2
= 12,000 ( 1 + 0.1) 4
= 12,000 (1.1) 4
= 12,000 x 1.4641
Amount = $ 17569.20
∴ C.I = A - P
C.I = 17569.20 - 12000
C.I = $ 5569.20
Similar questions