CUET Preparation Today
What is the difference in compound interest earned in 1 year on a sum of Rs. 10,000 at the rate of 40% per annum compounded quarterly and annually? |
Rs. 421 Rs. 641 Rs. 161 Rs. 341 |
Rs. 641 |
Annually rate = 40% Quarterly rate = \(\frac{40}{4}\) = 10% Total C.I. of 4 quarters = 46.41% Difference = 46.41% – 40% = 6.41% Difference (in Rs.) = 10000 × 6.41% = Rs.641 |
