Question

semi-annually, find the interest paid by Amar after ! years,
6. Sudhir lent 2,000 at compound interest at 10% payable yearly, while Prashant lent 2,000 at compound​

Answer 1

Answer:

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Step-by-step explanation:

Given:

(i) Sudhir lent 2000 Rupees at compound interest at 10% payable yearly.

(ii) Prashant lent 2000 Rupees at compound interest at 10 percent payable half yearly.

To find:

(i) The difference in the interest received by Sudhir and Prashant at the end of one year.

Solution:

We know,

Amount (A) in CI is given as:

A = P(1 + r/n)^(nt)

P is the Principal money

R is the rate percentage

t is time period

n is number of times interest is compounded per unit t

For Sudhir,

A = 2000(1 + 0.10)^1

= 2000(1.1)

= Rs 2200

CI = A-P

= Rs (2200-2000)

= Rs 200

For Prashant,

A = 2000(1 + 0.10/2)^(1*2)

= 2000(1.05)^2

= Rs 2205

CI = A-P

= Rs (2205-2000)

= Rs 205

Difference in interests = Rs 205- Rs 200

= Rs 5

∴ Rs 5 is the answer.