Question

Mohan deposited Rs 5000 at 8% p.a. compound interest in a bank. Find the difference between the amounts compounded yearly and half yearly in two years.​

Answer 1

Answer:

970.44rs

Step-by-step explanation:

principle = 5000

interest = 8% = 2/25 in fraction

• 25 part is principle , 2 part is interest ,so 27 part

• amount = 27 parts

• time = 2 years , compounded annually

• P A

25² 27²

--------------------------------

625 729

625 = 5000

729 = x

apply cross multiplication method

x = 5832 rs for compounded annually for 2 years

time = 2 years , compounded half yearlY

P A

25⁴ 26⁴

----------------------------------

390,625 531,441

390625 = 5000

531441 = x

apply cross multiplication method

x = 6,802.4448 rs

the difference between the amounts compounded yearly and half yearly in two years.

6,802.4448 - 5832 = 970.44 rs