Question

Sudhir lent rupees 2000 at compound interest and 10% payable yearly ,while Prashant lent rupees 2000 at compound interest at 10% payable half-yearly. Find the difference in the interest received by Sudhir and Prashant at the end of 1 year.


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Answer 1

Sudhir's Case

Principal = 2000
Rate = 10% p.a.
A = P ( 1 + r)n
                 100
A=  2000[ 1 + 10/100]1   =  2000 * 110/100
   =  2200
 
Prashant's Case
Principal = 2000
Rate = 10% p.a.  or  5% half - yearly
A = 2000 (1 + 5/100)2-no. of half years
   = 2000 * 105/100 * 105//100
   =2205
The Difference
2205 - 2200 = 5 rupees .

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Answer 2

P=2000
R=10%
T=1yr
A=P[1+r/100]2n
2000[1+10/100]^2
2000*110/100*110/100
=ru2420
C.I.=2420-2000
=420