Mathematics, 10.01.2021 18:20 kfull6027
A person deposited Rs 60000 in a bank for 2 years at the rate of 10%pa compounded annually. But after one year, bank has changed the policy and decided to pay semi-annual compound interest at the same rate. What is the percentage difference between compound interest of first year and second year?
Answers: 1
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per annum compounded annually.
years.
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.![=66,000\times [1+\frac{10}{2\times 100}]^2=66,000\times1.1025=\textrm{Rs }72,765](/tpl/images/1024/9816/0d594.png)
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A person deposited Rs 60000 in a bank for 2 years at the rate of 10%pa compounded annually. But afte...
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