Question
The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
Answer: Option B
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S.I. = Rs \(\left(\frac{1200\times10\times1}{100}\right)= Rs. 120.
\)
C.I. = Rs. \(\left[1200\times\left(1+\frac{5}{100}\right)^{2}-1200\right]= Rs. 123.\)
So, Difference = Rs. (123 - 120) = Rs. 3.
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