find the differences between the simple interest and compound interest on rupees 16,000 for 3/2 years at 5% per annum, compound interest being reckoned half yearly.
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(n=time)n=3/2 X 2=3yrs(n X 2)
(R=rate of interest)R=5/2=2.5%(R/2)
amount=principle X (1+R/100)n
x=16,000 X (1+25/1000)3
x=16,000 X (1+1/10)3
x=16,000 X (10/10 + 1/10)3
x=16,000 X (11/10)3
x=16,000 X 1331/1000
x=16 X 1331
A=₹21,296
C.I=A-P
C.I=₹21,296-₹16000
C.I=₹5296
(R=rate of interest)R=5/2=2.5%(R/2)
amount=principle X (1+R/100)n
x=16,000 X (1+25/1000)3
x=16,000 X (1+1/10)3
x=16,000 X (10/10 + 1/10)3
x=16,000 X (11/10)3
x=16,000 X 1331/1000
x=16 X 1331
A=₹21,296
C.I=A-P
C.I=₹21,296-₹16000
C.I=₹5296
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