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What is the difference (in Rs.) between the compound interests on Rs. 4000 for 1 year at 12% per annum compounded yearly and half - yearly?
- A14.4
- B12.4
- C10.4
- D16.4
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CCommunity
Compound interest if it was compounded annually can be given as
⇒ CI = 4000{(1 + 12/100) - 1}
⇒ CI = 480
Compound interest if it was compounded half yearly can be given as
⇒ CI = 4000{(1 + 6/100)2 - 1} = 4000{(1.06)2 - 1}
⇒ CI = 4000 × 0.1236 = 494.4
So, difference = 494.4 - 480 = 14.4
⇒ CI = 4000{(1 + 12/100) - 1}
⇒ CI = 480
Compound interest if it was compounded half yearly can be given as
⇒ CI = 4000{(1 + 6/100)2 - 1} = 4000{(1.06)2 - 1}
⇒ CI = 4000 × 0.1236 = 494.4
So, difference = 494.4 - 480 = 14.4
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CCommunity
Compound interest if it was compounded annually can be given as
⇒ CI = 4000{(1 + 12/100) - 1}
⇒ CI = 480
Compound interest if it was compounded half yearly can be given as
⇒ CI = 4000{(1 + 6/100)2 - 1} = 4000{(1.06)2 - 1}
⇒ CI = 4000 × 0.1236 = 494.4
So, difference = 494.4 - 480 = 14.4
⇒ CI = 4000{(1 + 12/100) - 1}
⇒ CI = 480
Compound interest if it was compounded half yearly can be given as
⇒ CI = 4000{(1 + 6/100)2 - 1} = 4000{(1.06)2 - 1}
⇒ CI = 4000 × 0.1236 = 494.4
So, difference = 494.4 - 480 = 14.4