Question

What is the difference between compound interest on 5000 for 1 and half years at 5% per annum according as the interest is compounded yearly and half-yearly and hundred yearly an thousand yearly?

Answer 1

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SI = p*n*r/100

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Which gives us 1500 as simple interest for 3 years at 10% on 5000

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Where as CI = Amount — principle

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So Amount = 5000*1.1*1.1*1.1 => 6655

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Therefore CI = 1655

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CI-SI = 1655-1500=155



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