Sita deposited Rs. 5000 at 10% simple interes | vedclass

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Question

(C) Principal $(P) = Rs. 5000$,Rate $(R) = 10\%$ per annum,Time $(T) = 2$ years.Simple Interest $(SI) = \frac{P 	imes R 	imes T}{100} = \frac{5000 \

Vedclass · Accepted Answer

$77.50$

Vedclass · Answer

(C) Principal $(P) = Rs. 5000$,Rate $(R) = 10\%$ per annum,Time $(T) = 2$ years.Simple Interest $(SI) = \frac{P 	imes R 	imes T}{100} = \frac{5000 	imes 10 	imes 2}{100} = Rs. 1000$.For compound interest compounded semi-annually:Rate $(r) = \frac{10}{2} = 5\%$ per half-year.Time $(n) = 2 	imes 2 = 4$ half-years.Amount $(A) = P \left(1 + \frac{r}{100}ight)^n = 5000 \left(1 + \frac{5}{100}ight)^4 = 5000 \left(1.05ight)^4$.$A = 5000 	imes 1.21550625 = Rs. 6077.53125$.Compound Interest $(CI) = A - P = 6077.53125 - 5000 = Rs. 1077.53$.Difference $= CI - SI = 1077.53 - 1000 = Rs. 77.53$.Rounding to the nearest option,the difference is $Rs. 77.50$.

Sita deposited $Rs. 5000$ at $10\%$ simple interest for $2$ years. How much more money (in $Rs.$) will Sita have in her account at the end of $2$ years,if it is compounded semi-annually?

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