The difference between simple and compound interest on Rs. 1200 for one year at

Question

The difference between simple and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is?

Options:

A . Rs. 2.50

B . Rs. 3

C . Rs. 3.75

D . Rs. 4

Answer: Option B

S.I. = (1200 * 10 * 1)/100 = Rs. 120 C.I. = [1200 * (1 + 5/100)² - 1200] = Rs. 123
Difference = (123 - 120) = Rs. 3.

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