ESE 2022Q67
Q: The difference between simple interest and compound interest on a sum for 2 years at 8% when the interest is compounded annually is ₹16. If the interest were compounded half-yearly the difference in two interests would be nearly
(a)₹ 21·35
(b)₹ 24·64
(c)₹ 27·85
(d)₹ 29·94
Correct Answer: (a)
Detailed explanation coming soon.