Math, asked by sunilrrrrr, 10 months ago

Hey pls i need solution
A person deposited rs 100000 in a bank X for two years at 10% annual interest. But after one year bank has changed policy and decided to pay semi annual compound interest at the same rate. what is the percentage difference between compound interest of the first year and second year?

Answers

Answered by natyavidhanbiswas10
0

hey bro

pls explain your answer clearly

Answered by RayyanKashan
2

12.75% Increase

All the best

Mark me brainliest

The 1st year is simple interest, due to the fact that interest has not yet compounded.

Well first year interest is:

= 100000 × 10/100

= 1st year's interest : 10000

Now Total Principal: 100000 + 10000 = 110000

2nd year semi annual interest:

Formula P (1 + r/2/100)^(nt)

Final Amount= 110000 ( 1 + (10/2)/100)²

=110000 ( 1 + 5/100)²

= 110000 × 1.1025

Final Amount= 121275

2nd year Interest = 121275 - Principal

= 121275 - 110000

2nd year interest = 11275

Change in Percentage :

= (New value - Old value) ÷ old value × 100

= 11275 - 10000

= 1275 ÷ 10000 × 100

= 12.75% increase

All the best

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