The difference between simple and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is________?
Q1. The difference between simple and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is________?
Answer: Rs. 3
Explanation: SI = Rs.120; CI (half-yearly, 5% per period, 2 periods) = 1200 × 0.1025 = Rs.123; difference = Rs.3.