Question

Find the difference between the compound interest on rupees 160000 for 1 year at 20per annum when compounded half yearly and quarterly

Answer 1

Answer:

Step-by-step explanation:

Given Rate =10% per annum

=5% per half year

Time = 2 year = 4 half year

A=160000×(1+5100)4

=160000×2120×2120×2120×2120

=Rs.194481

CI=A−P

=194481−160000

=Rs.34481