The difference between compound interest compounded every 6 months and simple interest after 2 years is Rs. 248.10. The rate of interest is 10 percent. Find the sum. (in Rs.)

12000

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14000

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16000

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18000

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None of these

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Solution

The correct option is C 16000
$P {(1 + \frac{5}{100})}^{4} - P - (\frac{P \times 2 \times 10}{100}) = R s . 208.10$
$\Rightarrow P = R s . 16000$

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The difference between compound interest compounded every 6 months and simple interest after 2 years is Rs. 248.10. The rate of interest is 10 percent. Find the sum. (in Rs.)

The correct option is C 16000P(1+5100)4−P−(P×2×10100)=Rs. 208.10 ⇒P=Rs. 16000

The correct option is C 16000
$P {(1 + \frac{5}{100})}^{4} - P - (\frac{P \times 2 \times 10}{100}) = R s . 208.10$
$\Rightarrow P = R s . 16000$