For Raj (compounded annually): Rate = 25% Time = 3 years A = ₹10,000 (1 + 25/100)3 = 10,000 × (5/4)3 = ₹19,531.25 Interest = A – P =19,531.25-10000 = ₹9,531.25 For Simran (compounded semi-annually): Rate for six months = 25 × 6/12 = 12.5% Time for Simran = 3 × 2 = 6 periods - A = ₹10,000 (1 + 12.5/100) 6 = 10,000 × (9/8)6 = ₹19,987.37 Interest = A – P =19987.37-10000 = ₹9,987.37 Difference in interest = ₹9,987.37 - ₹9,531.25 = ₹456
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