Question

The difference between compound interest on Rs 1000 for 1 year at 20% per annum when
compound half yearly and quarterly is:​

Answer 1

Answer:

Step-by-step explanation:

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Answer 2

Answer:

Difference between compound interest on Rs 1000 for 1 year at 20% per annum when compound half yearly and quarterly is Rs 633.6.

Step-by-step explanation:

Initial amount (p) = Rs 1000

Interest rate (r) = 20%

Time (t) = 1 year .

Rule of compound interest when coumpond annualy = p [(1+(r/100))^n - 1]

Rule of compound interest when coumpond half yearly = p [(1+(r/100))^2n - 1]

Rule of compound interest when coumpond quarterly = p [(1+(r/100))^4n - 1]  

Compound interest when coumpond half yearly = 1000 [36/25-1] [n=1]

                                                                                 = (1000*11)/25

                                                                                  =440.

Compound interest when coumpond quarterly

= 1000 [(6/5)^4 - 1]

= 1000*(1296/625 - 1]

= 1000*671/625

= 1073.6.

Difference between compound interest on Rs 1000 for 1 year at 20% per annum when compound half yearly and quarterly is ( 1073.6 - 440 ) = 633.6.

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