Question : What is the difference (in INR) between the interests on INR 50,000 for one year at 8% per annum compounded half-yearly and yearly?
Option 1: 80
Option 2: 100
Option 3: 70
Option 4: 50
Correct Answer: 80
Solution :
Principal,
Term,
Rate,
When compounded half-yearly,
Compound Interest, CI =
=
=
=
=
=
=
When compounded annually,
Compound Interest, CI =
=
=
=
So, the required difference
Hence, the correct answer is 80.
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