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Find the difference between compound interests compounded half yearly and yearly on Rs 5000 for 1 year at 10 % p.a.
Question
A
Rs 12.50
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B
Rs 20.50
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C
Rs 25
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D
Rs 20
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Solution
The correct option is A
Rs 12.50
Suggest Corrections
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Similar questions
Q. What is the difference between the compound interests on
Rs.5000 for
112 years at
4% per annum compounded yearly and half-yearly?
Q. Compute the compound interest on
Rs.4000 for
11/2 years at
10% p.a. compounded half-yearly.
Q. What is the difference between the compound interests on $400 for 1 year at 10% per annum compounded yearly and half-yearly?
$
Q. Find the compounded interest on Rs. 5000 for 1 year 8% per annum, compounded half-yearly.
Q. What is the difference between the. compound interests on Rs.
5,000 for
112 years at
4% per annum compounded yearly and half-yearly?
What is the difference between compound interest on Rs. 5000 for \(1 \frac{1}{2}\) years at 4% per annum the interest is compounded yearly and half-yearly?
- Rs. 2.04
- Rs. 3.06
- Rs. 8.30
- Rs. 4.80
Answer (Detailed Solution Below)
Option 1 : Rs. 2.04
Free
DSSSB LDC Official Paper 1 (Held on : 18 Aug 2019 Shift 1)
200 Questions 200 Marks 120 Mins
Given:
P = Rs. 5000
Time = 3/2 years
Rate of interest = 4%
Formula:
Let P = Principal, R = rate of interest and N = time period
Compound interest calculated annually = P(1 + R/100)N - P
Compound interest calculated half yearly = P(1 + R/200)2N - P
Calculation:
Compound interest calculated annually = 5000(1 + 4/100)(1 + 2/100) - 5000 = Rs. 304
Compound interest calculated half yearly = 5000(1 + 2/100)3 - 5000 = Rs. 306.04
∴ Required difference = 306.04 - 304 = Rs. 2.04
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