jitesh took a loan of rs. 64000 from a bank.if the rate of interest is 15percent per annum find the difference in amounts he would pay after 2 uears if interst is compounded annually and semi annualy
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when compounded annually
A=P(1+r/100)^2
=64000(1+15/100)^2
=64000(115/100)^2
=64000×115×115/10000
=84640
when compounded half yearly
A=P(1+r/2×100)^2×2
=64000(1+15/200)^4
=64000(215/200)^4
=64000×215×215×215×215/40000×40000
=85470.025
therefore the difference between the amounts is rupees =85470.025- 84640
=830.025
A=P(1+r/100)^2
=64000(1+15/100)^2
=64000(115/100)^2
=64000×115×115/10000
=84640
when compounded half yearly
A=P(1+r/2×100)^2×2
=64000(1+15/200)^4
=64000(215/200)^4
=64000×215×215×215×215/40000×40000
=85470.025
therefore the difference between the amounts is rupees =85470.025- 84640
=830.025
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