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.
Answers
Answered by
2
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
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