Question

Sudhir lent 2000 at compound interest at 10% payable yearly, while Prashant lent 2000 at compound interest at 10% payable half-yearly. Find the difference in the interest received by Sudhir and Prashant at the end of one year.​

Answer 1

Answer: 5

Step-by-step explanation:

when CI is calculated yearly 2000×10/100

=200

for half yearly,10/2=5 and 1×2 =2

when CI is calculated half yearly 2000×5×/100

100

So, 2000+100

=2100

=2100×5/100

=105

So, CI =2100+105

=2205

CI for yearly =2200 and CI for half yearly =2205

Difference =2200 -2205

=5