What is the difference between the compound interests on rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
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rate for whole year 4%
rate half yearly= 2+2+2×2/100=4.04
difference=0.04
diff in compound interest= 5000×0.04×1/100
=₹2
rate half yearly= 2+2+2×2/100=4.04
difference=0.04
diff in compound interest= 5000×0.04×1/100
=₹2
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