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in Compound Interest by (49.2k points)
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The difference between simple interest and compound interest on Rs 1200 for one year at 10% per annum reckoned half yearly is 

(a) Rs 2.50 

(b) Rs 3 

(c) Rs 3.75 

(d) Rs 4

1 Answer

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Best answer

(b) Rs 3

P = Rs 1200, R = 10% p.a., T = 1 year

\(\therefore\) S.I. = \(\frac{P\times R\times T}{100}\) = \(\frac{1200\times 10\times 1}{100}\) = Rs 120

For C.I. reckoned half yearly, 

P = Rs 1200, r = 5% per half year, n = 2 half year

\(\therefore\) C.I = Rs \(\Big(1200\big(1+\frac{5}{100}\big)^2-1200\Big)\)

= Rs\(\big(1200\times\frac{21}{20}\times\frac{21}{20}-1200\big)\)

= Rs 1323- Rs 1200 = Rs 123.

\(\therefore\) Required difference = Rs 123 – Rs 120 = Rs 3.

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