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CBSE Class 11-commerce Answered

The difference in compound interest and simple interest on a sum for 2 years at 10% p.a. when compound interest is computed annually is 16. Find the difference in the difference in compound interest and simple interest if compound interest is computed half yearly.
Asked by mk958311 | 20 Sep, 2019, 07:12: AM
answered-by-expert Expert Answer
The difference in compound interest and simple interest on a sum for 2
years at 10% p.a. when compound interest is computed annually is 16.
begin mathsize 16px style straight P open parentheses 1 plus straight r over 100 close parentheses to the power of straight n minus Pn cross times straight r over 100 equals 16 rightwards double arrow straight P open parentheses 1 plus 10 over 100 close parentheses squared minus straight P cross times 2 cross times 10 over 100 equals 16 rightwards double arrow straight P open square brackets open parentheses 1 plus 10 over 100 close parentheses squared minus 2 cross times 10 over 100 close square brackets equals 16 end style
Solving this we get the value of sum which invested.
Answered by Sneha shidid | 23 Sep, 2019, 09:35: AM

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