Question

I just took a loan of rupees 80000 for ma Bank if the rate of interest is 10% per annum find the difference amount in amount he would be paying after 1 and half year is the interest is compounded annually and compounded half yearly

Answer 1

1) interest paid when compounded annually =Rs12400
2) interest paid when compounded half yearly =
92610-80000
=12610
difference = 12610-12400
=Rs210