Question

Find the difference between the simple interest and compound interest on rupees 16000 for 1 and a 1/2 years at 5% per annum,compound interest being reckoned half-yearly.

Answer 1

Answer:

₹30.25

Step-by-step explanation:

simple int=16000*5%*1.5

=1200.........(1)

amt after comp int

=16000[(1+0.025)^3

as half of 5% is compounded half yearly

=16000*1.025^3

=16000*1.0769

=17230.25

so int=17230.25-16000

=1230.25........(2)

Diffrnc btwn (2) and(1)

=1230.25 -1200

=30.25