Sita deposited ₹ 5,000 at 10% simple interest | vedclass

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Question

(C) Simple Interest $(SI)$ calculation:$SI = \frac{P 	imes R 	imes T}{100} = \frac{5000 	imes 10 	imes 2}{100} = ₹ 1000$.Compound Interest $(CI)$

Vedclass · Accepted Answer

$77.50$

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(C) Simple Interest $(SI)$ calculation:$SI = \frac{P 	imes R 	imes T}{100} = \frac{5000 	imes 10 	imes 2}{100} = ₹ 1000$.Compound Interest $(CI)$ calculation (compounded semi-annually):Principal $(P)$ = ₹ $5000$,Annual Rate = $10\%$,Semi-annual Rate $(R)$ = $5\%$,Time $(T)$ = $2$ years = $4$ half-years.$CI = P \left[ \left( 1 + \frac{R}{100} ight)^T - 1 ight]$$CI = 5000 \left[ \left( 1 + \frac{5}{100} ight)^4 - 1 ight]$$CI = 5000 \left[ (1.05)^4 - 1 ight]$$CI = 5000 \left[ 1.21550625 - 1 ight] = 5000 	imes 0.21550625 = ₹ 1077.53125$.Difference = $CI - SI = 1077.53125 - 1000 = ₹ 77.53125 \approx ₹ 77.50$.

Sita deposited ₹ $5,000$ at $10\%$ simple interest for $2$ years. How much more money (in ₹) will Sita have in her account at the end of two years,if it is compounded semi-annually?

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