Mr. Sundaram takes a loan of Rs 1200 to be paid back after 1 year. He is to pay interest either at 5% p.a. compounded annually or at 4% p.a. compounded six monthly. Which option is better for him and by how much? Options: A . &nbsp2 nd option , Rs 11 B . &nbsp2 nd option , Rs 11.50 C . &nbsp1 st option , Rs 11 D . &nbsp1 st option , Rs 11.50

Mr. Sundaram takes a loan of Rs 1200 to be paid back after 1 year. He is to p

Question

Mr. Sundaram takes a loan of Rs 1200 to be paid back after 1 year. He is to pay interest either at 5% p.a. compounded annually or at 4% p.a. compounded six monthly. Which option is better for him and by how much?

Options:

A . 2^nd option , Rs 11

B . 2^nd option , Rs 11.50

C . 1^st option , Rs 11

D . 1^st option , Rs 11.50

Answer: Option B

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