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What is the difference between the compound interest on Rs.
Question 1:
What is the difference between the compound interest on Rs.12000 at 20% p.a. for one year when compounded yearly and half yearly?
A.
Rs.130
B.
Rs.140
C.
Rs.120
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When compounded annually, interest
= 12000[1 + 20/100]1 - 12000 = Rs.2400
When compounded semi-annually, interest
= 12000[1 + 10/100]2 - 12000 = Rs.2520
Required difference = 2520 - 2400 = Rs.120
D.
Rs.110
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