What is the difference (in Rs.) between the compound interests on Rs. 4000 for 1 year at 12% per annum compounded yearly…
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What is the difference (in Rs.) between the compound interests on Rs. 4000 for 1 year at 12% per annum compounded yearly and half- yearly?
✓ Correct answer: a) 14.4
ExplanationGiven, Principal (P) = Rs 4000 If interest is compounded annually Rate = 12 % and Time = 1 year Amount = Compound Interest = Amount – Principal = 4480 – 4000 = Rs. 480 Now, if interest is compounded half-yearly Rate = % and Time = 2 half-year Amount = Compound Interest = 4494.4 – 4000 = Rs. 494.4 Required Difference = 494.4 – 480 = Rs. 14.4 Hence, Option A is the correct answer.
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