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Compound Interest

Q1:

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

A Rs. 2.50

B Rs. 3

C Rs. 3.75

D Rs. 4

E None of these

ANS:B - Rs. 3

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



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