The difference between the compound interest for a year payable half-yearly
The difference between the compound interest for 1 year, compounded half-yearly and the simple interest for 1 year on a certain sum of money at 10% per annum is Rs. 360. Show
To do : We have to find the sum. Solution : Let the sum be x Rate of interest $= 10$% $= \frac{10}{100} = 0.1$. Time $= 1$ year Number of compounds per year $= n = 2$. Amount $= P(1+\frac{r}{n})^{nt} $ $= x(1+\frac{0.1}{2})^{2 \times 1}$ $= x (\frac{2.1}{2})^2$ $= x (1.05)^2 = 1.1025 x$ Compound Interest $=$ Amount $-$ Principal $ = 1.1025x - x = 0.1025x$ Simple interest $= \frac{Ptr}{100} $ $= \frac{x \times 1 \times 10}{100} = 0.1x$ The difference between compound interest and simple interest $=$ Rs.360 Therefore, $0.1025x - 0.1x=360$ $0.0025x=360$ $x =\frac{360}{0.0025} = \frac{360}{25} \times 10000 = 360 \times 400 = 144000 $ $x=144000$ Therefore, the sum is Rs.144000. Let sum of money be Rs. y To calculate C.I.(compounded half-yearly) = `y[ (21/20)^2 - 1 ] = (41/400)y` Given : C.I. - S.I. = Rs. 15 ⇒ `(41/400)y - y/10 = 15` ⇒ `y/400 = 15 ⇒ y = Rs. 6,000. What is the difference between the compound interest in compounded yearly and compounded half yearly for 18 months at 20% per annum on a sum of ₹ 12000?∴ The difference between the compound interest compounded yearly and compounded half yearly for 18 months at 20% per annum on a sum of Rs. 12,000 is Rs. 132.
What is the difference between compound interest and compound annually?The difference between the compound interest compounded annually and the simple interest on a certain sum 2 years at 6% per annum is Rs. 18.
What is payable half yearly?Half-yearly means happening twice a year, with six months between each event. [British] ... half-yearly payments.
What is the difference between the compound interest on 5000 for 1 and half years and 4% per annum compounded yearly and half yearly?Detailed Solution
= Rs. (5000 × 26/25 × 51/50) = Rs. 5304.
|