Question

The difference between compound interest and simple interest on a sum for 3 years at 10% per annum, when the interest is compounded annually is 20. If the interest were compounded half yearly, what would be the difference in two interests ?

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Answer 1

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$For \: first \: year, S.I. = C.I.$

$∴ Rs. 10 is S.I. on Rs. 100$

$∴ Rs. 16 is S.I. on (10100×16)=Rs.160$

$∴ S.I. on principal for 1 yea r at \: 10% is Rs. 160.$

$∴ principal =(10×1100×160)=Rs.1600.$

$Amount for 2 years com \\ pounded half yearly$

$=Rs.[1600×(1+1005)4] \\ =Rs.1944.81$

$∴C.I.Rs.(1944.81−1600) \\ =Rs.344.81$

$S.I.=Rs.(1001600×10×2) \\ =Rs.320$

$∴(C.I.)−(S.I.)=Rs.(344.81−320) \\ =Rs.24.81$

Answer 2

Refer The Attachment

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