What is the absolute difference between simple and compound interests compounded annually on 20000 for 2 years at 5% per annum?
Simple interest= 20000*2*5/100=2000 Compound interest= 20000*((1 + 0.05)^2 -1)=2050 The difference=2050-2000=50 or 0.25%
The difference between simple and compound interests compounded annually on a certain sum of money for 4 years at 6.5% per annum is Rs. 1191. What is the value of the sum?
Arif took a loan of Rs 80000 from a bank. If the rate of interest is 10% per annum. Find the difference in amounts he would be paying after 1 1/2 years if the interest is compounded annually and compounded half yearly.
There is 60% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 10000 after 3 years at the same rate (compounded annually)?
