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What is the difference (in ₹) between the compound interest, when interest is compounded 6-monthly, and the simple interest on a sum of ₹10,000 for $$1\frac{1}{2}$$ years at 10% p.a.?
If interest is half-yearly, Then
Time = $$1.5\times\ 2=3$$
Rate = $$\frac{10}{2}=\ 5\%$$
$$A=P\left(1+\frac{r}{100}\right)^n$$
= $$A=10,000\left(1+\frac{5}{100}\right)^3$$
$$A=10,000\ \times\ \frac{21}{20}\times\ \frac{21}{20}\times\ \frac{21}{20}=11576.25$$
C.I = A - P = 11576.25 - 10000 = ₹1576.35
Simple Interest = $$S.I\ =\frac{\left(P\times\ R\times\ T\right)}{100}$$
= $$\frac{\left(10000\times\ 10\times\ 1.5\right)}{100}$$
= ₹1500
Required Difference = ₹1576.25 - ₹1500 = ₹76.25
Hence, Option C is correct.
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