Question

For the same principal, rate and time of 1 year, the compound interest compounded half-yearly is more than the compound interest compounded annually.

Kiran deposits ₹40,000 in a bank for 3 years at 5% per annum, compounded annually. Find the compound interest (in ₹) she earns.

Find the compound interest (in ₹) on ₹10,000 for 1\frac{1}{2} years at 8% per annum, compounded half-yearly.

Ravi wants to deposit ₹20,000 for 2 years at 10% per annum. His bank offers three schemes. Scheme 1: simple interest. Scheme 2: compound interest, compounded annually. Scheme 3: compound interest, compounded half-yearly.