Prativa deposited Rs. 150000 in a bank at the rate of 10% p.a. a Pramila deposited Rs. 150000 in the bank at the rate of 12% p.a. If Prativa received semi annual compound interest and Pramila received annual compound interest, which interest is more and by how much in 3 years? Find it.
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Answer:
Step-by-step explanation:
P=10000,R=7,T=5
CI=P[1+
100
R
]
T
−P
=10000[1+
100
7
]
5
−10000
=10000[(1.07)
5
−1]
=10000×0.4025.5
=4025.5
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