Question

find the difference between the compound interest on rupees 6000 for 1(1/2) years at 4% p.a when compounded half yearly and compounded quartely​

Answer 1

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Answer 2

The difference between the compound interest on rupees 6000 for 1(1/2) years at 4% p.a when compounded half yearly and compounded quartely​ is Rs.1.8729

Step-by-step explanation:

Case 1 :

Principal = Rs.6000

Time =$1 \frac{1}{2} years = \frac{3}{2} years$

Rate of interest r = 4% = 0.04

No.. of compounds per year = n = 2

$Amount =P(1+\frac{r}{n})^{nt}\\Amount = 6000(1+\frac{0.04}{2})^{2 \times \frac{3}{2}}$

Amount =6367.248

Compound interest = 6367.248 -6000= Rs.367.248

Case 2:

Principal = Rs.6000

Time =$1 \frac{1}{2} years = \frac{3}{2} years$

Rate of interest r = 4% = 0.04

No.. of compounds per year = n =4

$Amount =P(1+\frac{r}{n})^{nt}\\Amount = 6000(1+\frac{0.04}{4})^{4 \times \frac{3}{2}}$

Amount =6369.1209

Compound interest = 6369.1209-6000= Rs.369.1209

Difference between interests = 369.1209-367.248 =1.8729

Hence the difference between the compound interest on rupees 6000 for 1(1/2) years at 4% p.a when compounded half yearly and compounded quartely​ is Rs.1.8729

#Learn more:

Find the compound interest on rupees 2000 for 1 and half years at 10% p.a. ,when the interest is compounded half yearly ​

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