What is the difference between the C.I. on Rs. 5000 for 1 1/2 years at 4% per a

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Question

What is the difference between the C.I. on Rs. 5000 for 1 1/2 years at 4% per annum compounded yearly and half-yearly?

Options:

A . Rs. 2.04

B . Rs. 3.06

C . Rs. 4.80

D . Rs. 8.30

Answer: Option A

C.I. when interest is compounded yearly = [5000 * (1 + 4/100) * (1 + (1/2 * 4)/100] = 5000 * 26/25 * 51/50 = Rs. 5304 C.I. when interest is compounded half-yearly = [5000 * (1 + 2/100)²] = (5000 * 51/50 * 51/50 * 51/50) = Rs. 5306.04
Difference = (5306.04 - 5304) = Rs. 2.04.

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