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Find the difference between the simple interest and compound interest on Rs 16000 for one and a half years at 5% per annum, compound interest being

reckoned half yearly



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P = 16000
r = 5%
t = 1.5 years
n = 2 (as it is compounded half yearly)

SI =Ptr=16000\ *\ 1.5\ *\  \frac{5}{100} =Rs.1200

A=P(1+ \frac{r}{n} )^{nt}=16000(1+ \frac{0.05}{2} )^{2*1.5}=16000*(1.025)^{3}=17230.25

CI=A-P=17230.25-16000=Rs. 1230.25

difference = 1230.25-1200=Rs.\ 30.25
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