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  • Find the difference between the simple interest and compound interest on rs.16,000 for 3/2 years at 5% per annum, compound interest being reckoned half yearly?

Find the difference between the simple interest and compound interest on rs.16,000 for 3/2 years at 5% per annum, compound interest being reckoned half yearly?

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\\ \text{For Simple Interest:}\\ P=R s .16,000, R=5 \%$ and $T=1 \frac{1}{2}=\frac{3}{2}$ yrs \\ Simple Interest $=\frac{P \times R \times N}{100}$ \\ Subst itute the values and after doing the calculations, we get $SI = Rs \cdot 1200$ \\ For Compound Interest: \\ $P=R s .16,000, R=\frac{5}{2} \%=2.5 \%$ and $n=3$ (Compounding has to be done 3 times) \\ $A=P\left(1+\frac{R}{100}\right)^{n}$ and $C .1=P-A$ \\ Substitute the values and after doing the calculations, we get $Cl = Rs \cdot 1230.25$ \\ $C .1-S . I=1230.25-1200=R s .30 .25$

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Deependra Verma

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