The difference between simple and compound interest on Rs. 1400 for one year at 10% per annum ...

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The difference between simple and compound interest on $ for one year at % per annum reckoned half - yearly is?

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Calculated Answer

3.4999999999999

Step by Step Solution

In order to solve problem, you must evaluate n₀ * ((n₁ / 2) / 100 + 1^2 - (n₁ / 100 + 1)).

• n₀ * ((n₁ / 2) / 100 + 1^2 - (n₁ / 100 + 1))

• Evaluate n₁ / 2 = 5

  n₀ * (5 / 100 + 1^2 - (n₁ / 100 + 1))

• Evaluate 5 / 100 = 0.05

  n₀ * (0.05 + 1^2 - (n₁ / 100 + 1))

• Evaluate 0.05 + 1 = 1.05

  n₀ * (1.05^2 - (n₁ / 100 + 1))

• Evaluate 1.05^2 = 1.1025

  n₀ * (1.1025 - (n₁ / 100 + 1))

• Evaluate n₁ / 100 = 0.1

  n₀ * (1.1025 - (0.1 + 1))

• Evaluate 0.1 + 1 = 1.1

  n₀ * (1.1025 - 1.1)

• Evaluate 1.1025 - 1.1 = 0.0024999999999999

  n₀ * 0.0024999999999999

• Evaluate n₀ * 0.0024999999999999 = 3.4999999999999

  3.4999999999999
• The answer to the problem and the result of n₀ * ((n₁ / 2) / 100 + 1^2 - (n₁ / 100 + 1)) is 3.4999999999999