Rahul lent Rs.1000 at compound interest at 10% payable yearly while Sunil lent Rs.1000 at 10% payable half yearly. The difference in the interest received is:
(a) ₹3.50 (b) ₹3.00 (c) ₹2.50 (d) ₹2.00
Answers
Answered by
3
Answer:
A rs.3.50
Step-by-step explanation:
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Answered by
12
Answer:
The answer is Rs. 2.50
Step-by-step explanation:
Rahul:
Amount(compounded yearly) = P(1+r/100)^n=
1000( 1 + 10/100)^1 =
1000(110/100) = Rs. 1100
Therefore, compound interest = Rs. 100
Sunil:
Amount(compounded half - yearly) = P(1+r/200)^2n =
1000(210/200)^2 =
1000 * 441/400 = 4410/4 = 1102.5
Therefore, amount = Rs. 1102.5
Therefore, compound interest = Rs102.5
Therefore, difference = 102.5 - 100 = Rs 2.5
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