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The difference between simple interest and compound interest on Rs. 600 for 1 years at 10% per annum,reckoned half yearly is?

Nil
Rs. 6.60
Rs. 4.40
Rs. 1.50

Correct Answer: Rs. 1.50

Explanation:

S.I. = Rs. (600 x 5 x 2)/100 = Rs.60
C.I.= Rs. [600 x (1 + 5/100)² - 600] = Rs. 61.50
∴ Requred Difference = Rs. (61.50 - 60) = Rs.1.50

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