Adarsha deposited Rs 4000 at 6% p.a. compound interest in a bank. Find the difference between the amounts compounded yearly and half yearly in two years.
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Adarsha deposited Rs 4000 at 6% p.a. compound interest in a bank. Find the difference between the amounts compounded yearly and half yearly in two years.
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Answer:
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Answer:
76.3524
Step-by-step explanation:
1st yr
Interest =PRT/100
= 40000×6×1/100
=2400
Amount =Principle +Interest
=40000 + 2400
= rupees 42400
2nd yr
I =PRT/100
=42400×6×1/100
=2544
Amount = P+I
=42400+2544
=44944
1st half yearly
I=PRT/100
=40000×6×1/2/100
=1200
A =41200
2nd half yearly
I =PRT /100
=41200×6×1/2/100
=1236
A =42,436
3rd half yearly
42436×6×1/2/100
=1,273.08
A=43,709.08
4th half yearly
43,709.08×6×1/2/100
=1,311.2724
A =45,020.3524
therefore difference is =
45,020.3524 - 44944
=76.3524