Mohan deposited rs.5,000 at 8% p.a. compound interest in a bank. Find the difference between the amounts compounded yearly and half yearly in two years.
Help me yar please
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Answer:
Given, Pricnipal=Rs. 5000
Rate =8%
Time =1 year, ⟹n=2∵ Compounded half-yearly
A=P(1+
2.100
r
)
n
A=5000(1+
200
8
)
2
A=5000(
200
208
)(
200
208
)
A=5408
C.I=A−P
=5408−5000
=408
C.I.=408.
and for 2 years
=408x2=816
816 rs is your answer
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