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What is the difference between the compound interests on Rs. 5000 for 1 1/2 years at 4% per annum compounded yearly and half-yearly?

Asked Sep 07, 2023 Modified Sep 07, 2023 Viewed 0 times
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Mathematics
asked Sep 07, 2023 at 09:12
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C.I. when interest compounded yearly=rs.[5000*(1+4/100)(1+1/2*4/100)] = Rs. 5304. C.I. when interest is compounded half-yearly=rs.5000(1+2/100)^3 = Rs. 5306.04 Difference = Rs. (5306.04 - 5304) = Rs. 2.04
answered Sep 07, 2023 at 09:12
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