Roshan lent out rs 10000 for 2 years at 20 % per annum compounded annualy. How much more could he earn if he earn the interest is compounded half yearly.
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Given
P=10000
T=2yr
R=20%p.a
Interest is compounded half year yearly
Then rate =20/2=10%
And he will take interest after very 6 months so ve have
N=4
A=p(1+r/100)^n
A=10000(1+10/100)⁴
A=10000(110/100)⁴
A=10000x(11/10)⁴
A=10000x11/10x 11/10 x11/10 x11/10
A=11x11x11x11=₹14641
Now if he give it on 20% P.a
R=20%
N=2
A=10000x(1+20/100)²
A=10000x(120/100)²
A=10000x12/10x12/10
=14400
Extra money he could earn =14641-14400=241
This is ur ans hope it will help you
P=10000
T=2yr
R=20%p.a
Interest is compounded half year yearly
Then rate =20/2=10%
And he will take interest after very 6 months so ve have
N=4
A=p(1+r/100)^n
A=10000(1+10/100)⁴
A=10000(110/100)⁴
A=10000x(11/10)⁴
A=10000x11/10x 11/10 x11/10 x11/10
A=11x11x11x11=₹14641
Now if he give it on 20% P.a
R=20%
N=2
A=10000x(1+20/100)²
A=10000x(120/100)²
A=10000x12/10x12/10
=14400
Extra money he could earn =14641-14400=241
This is ur ans hope it will help you
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