find the difference between the simple interest and the compound interest on rupees 16000 for 1 and the half years at 5% per annum compounded interest being reckoned half yearly

Open in App

Solution

Dear Student,
Case 1
Given : P = Rs. 16000, R = 5 %, T = 3/2 years
Simple Interest = (PRT)/100
= (1600053)/(2*100)
Simple Interest = Rs. 1200
Case 2
Compound Interest
Given : P = Rs. 16000, R = 5 % per annum and compounded half yearly so, rate of interest = 2.5 %
T = 3/2 years = 1 year and one half year = 3 half years
A = P (1 +r/100)â¿
= 16000 (1 + 2.5/100)³
= 16000 × 102.5/100 × 102.5/100 × 102.5/100
A = Rs. 17230.25
So, compound interest = 17230.25 - 16000 = Rs. 1230.25
Difference between compound interest and simple interest = 1230.25 - 1200 = Rs 30.25
Regards

Suggest Corrections

Similar questions

The difference between simple interest and compound interest on Rs $1200$ for one year at $10$ per annum reckoned half-yearly is __________

___

Q. Find the difference between the simple interest and compound interest(to the nearest integer) on Rs.

16, 000

for

1 \frac{1}{2}

years at

5 %

per annum, compound interest being reckoned half-yearly.

Find the difference between the simple interest and compound interest on rupees 2500 for 2 years at 4% per annum compound interest being reckoned semiannually

The difference between simple interest and compound interest on ₹ 1200 for one year at 10% per annum reckoned half-yearly is

The difference between simple interest and compound interest on ₹ $1200$ for one year at $10$ per annum reckoned half-yearly is ₹ ___ .

Join BYJU'S Learning Program