What is the difference between compound interest on Rs.3000 for 2 years at 5% P.a. When interest is compounded yearly and compound interest on the same sum and same terms except that it is compounded half yearly?

a) Rs.3.93
b) Rs.30
c) Rs.15.3
d) Rs.41.28
e) None of the above

• ans=3.93 rs
  
• 8 years agoHelpfull: Yes(0) No(6)
• CI =P(1+R/100)^n ------>Compund interest annually = 3307.50
  CI =P(1+(R/2)/100)^2n --------> Compound interest half yearly = 3311.43
  
  So difference = 3.93
  Answer is (A)
• 7 years agoHelpfull: Yes(0) No(0)