The difference between the S I and C I on ₹5000, rate of interest 7% p.a for one year is 0 if compounded annually.
True
False
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Step-by-step explanation:
C.I yearly
Principal=5000 Rs.
Time =1.5 years
Interest rate=4 %
Amount=5000(1+
100
4
)(1+
100
2
)
⇒5000×
100
104
×
100
102
⇒5304Rs.
Then C.I=5304−5000=304Rs.
C.I.half yearly
Principal=5000 Rs
Time=1.5 years=3 quarter
Rate =4%
Amount=5000(1+
100
2
)(1+
100
2
)(1+
100
2
)
⇒5000×
100
102
×
100
102
100
102
⇒5306.40
Then C.I=5306.40−5000=306.04
Diference between C.I.=306.04−304=2.04Rs
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