8th Class Mathematics Comparing Quantities Question Bank Comparing Queantities

  • question_answer What is the difference between the compound interests on Rs. 5000 for \[{{1}^{1/2}}\] years at 4% per annum compounded yearly and half yearly?

    A)  Rs. 2.04                       

    B)  Rs. 4.80

    C)  Rs. 3.06 

    D)  Rs. 8.30

    Correct Answer: C

    Solution :

    (c): Compounded manually C.I: =\[5000\text{ }\left[ {{\left( 1+\frac{4}{100} \right)}^{1.5}}~-1 \right]\] \[=5000\left[ {{\left( 1.04 \right)}^{1.5}}-1 \right]\] \[=5000\times 0.060596\] Compound half yearly T=3 half yrs rate 2% \[\therefore C.I=5000\left[ {{(1.02)}^{3}}-1 \right]\] \[=5000\times 0.061208\] Difference, \[=5000\left[ 0.061208-0.060596 \right]\]             \[=3.0597\approx 3.06.\]            

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