The difference between the compound interest on a sum of Rs. 8,000 for 1 year at the rate of 10% per annum, interest compounded yearly and half yearly is:
A. Rs. 20
B. Rs. 40
C. Rs. 30
D. Rs. 10
Answer: Option A
Solution (By Examveda Team)
Principal = Rs. 8000Rate = 10% p.a. = 5% half per yearly
Time = 1 year
Compound interest yearly = $$\frac{1}{{10}}$$ = Rs. 800
10 unit ⟶ Rs. 8000
1 unit ⟶ Rs. 800
Compound interest half yearly = $$\frac{1}{{20}}$$
400 unit ⟶ 8000
1 unit ⟶ 20
41 unit ⟶ 20 × 41 = Rs. 820
Difference = 820 - 800 = Rs. 20
This Question Belongs to Arithmetic Ability >> Compound Interest
Related Questions on Compound Interest
A. Rs. 120
B. Rs. 121
C. Rs. 122
D. Rs. 123
E. None of these
A. 625
B. 630
C. 640
D. 650
E. None of these
A. Rs. 2160
B. Rs. 3120
C. Rs. 3972
D. Rs. 6240
E. None of these
A. Rs. 2.04
B. Rs. 3.06
C. Rs. 4.80
D. Rs. 8.30
Join The Discussion