Multiple Choice Questions on What is the difference between the compound interests on Rs 5000 for 11 2 years at 4 per annum compo........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

What is the difference between the compound interests on Rs 5000 for 11 2 years at 4 per annum compo...........

Quantitative Aptitude ( CCS) Compound Interest
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    What is the difference between the compound interests on Rs. 5000 for 11/2 years at 4% per annum compounded yearly and half-yearly?

    Rs3.20
    Incorrect Answer
    Rs2.04
    Correct Answer
    Rs2.50
    Incorrect Answer

    Rs1.45

    Incorrect Answer
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    Explanation:

    CI yearly =5000*(1+4/100)*(1+(1/2 *4)/100)
    =5000*26/25*51/50
    =Rs5304.
    CI half yearly=5000*(1 + 2/100)3
    =5000*51/50*51/50*51/50
    =Rs5306.04.
    Difference=5306.04-5304=Rs2.04.

    Hence, option 2 is the correct answer.

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