Question

shaju deposited 15000 rupees in a bank which compounds interest annually and deepak deposited the same amount in another bank which compound interest half yearly the rate of interest is 10% at both the bank how much more would deepak get after one year ?​

Answer 1

Step-by-step explanation:

Shaju diposited amount in both banks = 15000

Lets suppose Bank be A and B respectively

Rate of interest in both banks are 10% pa

Now, In bank A he has amount Compounded Anualy

∴ Amount = Principal(1 + R/100)^Time

⇒ 15000(1 + 10/100)

⇒16500

Now, In Bank B he has amount Compounde half yearly

∴ Amount = Principal(1 + R/200)^2(time)

⇒ 15000 (1+10/200)²

⇒16537.5

∴He will get more amount in bank B after 1 year

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Answer 2

Step-by-step explanation:

Amount for Shaju = 15000(1+10/100)¹

= 15000*(11/100)

= 150*11

= 1650

Amount for deepak = 15000(1+10/100)²

= 15000*(11/100)

= 1.5*11*11

= 181.5

SI for Shaju = 15000-1650=13350

SI for deepak =15000-181.5=14818.5

More deepak would get= 14818-13350=1468.5