Mathematics, 03.01.2021 07:40 jessysmith9678
A person deposited Rs 50,000 in bank 'M' for two
years at the rate of 10% p. a. compound interest
compounded annually. But after one year, bank has
changed the policy and decided to pay semi-annual
compound interest at the same rate. What is the
percentage difference between compound interests of
first and second year? Give reason with calculation,
Answers: 1
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A person deposited Rs 50,000 in bank 'M' for two
years at the rate of 10% p. a. compound interest
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