Question

find the difference in compound interest on rs. 6000 for 1 year at the rate of 4% per annum if in the first case interest is paid half - yearly and in the second case quarterly.​

Answer 1

Half yearly:-

6000(1+4%/200)^2

6000(204/200)^2

6000x204/200x204/200

3x204x204/20

3x102x102/5

6242.4

CI=6242.4-6000

242.4

Quarterly :-

6000(1+4%/400)^4//

Answer 2

The difference between the compound interest is Rs 1.22

Step-by-step explanation:

We are given the following in the question:

P = Rs 6000

r = 4% = 0.04

t = 1 years

The compound interest is given by:

$A = p\bigg(1+\dfrac{r}{n}\bigg)^{nt}$

where A is the amount, p is the principal, r is the interest rate, t is the time in years and n is the nature of compound interest.

Half yearly, n = 2

For n = 2

$A = 6000\bigg(1+\dfrac{0.04}{2}\bigg)^{2}\\\\A = 6,242.40\\\\I = 6,242.40-6000 = 242.40$

Quarterly, n = 4

For n = 4

$A = 6000\bigg(1+\dfrac{0.04}{4}\bigg)^{4}\\\\A = 6,243.62\\\\I = 6,243.62-6000 = 243.62$

Difference in interest:

$I_{n=4}-I_{n=2} = 243.62 - 242.40 = 1.22$

#LearnMore

Find the compound interest of Rs.6000 for1 and 1/2 years at 10% per annum , interest being paid half yearly.

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