Question

Nirmal took a loan of Rs 60,000 from a bank. The rate of interest is 10% per annum. Find the
- difference in amounts she would be paying after 1 years if the interest is:
a) Compounded half yearly
b) Compounded annually.


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Answer 1

Answer:

rs.3071.5

Step-by-step explanation:

P=60000

r=10%

amount ( half yearly)=p(1+r/100) power t

=60000(1+10/100)power1/2

=62928.5

c.i=62928.5-60000=2928.5

amount (yearly)= 60000(1+10/100) power1

=66000

c.i=66000-60000=6000

difference in amounts=66000-62928.5

=3071.5