What is the difference between the compound interest on Rs.12000 at 24% p.a. for one year when compounded yearly and half yearly? Pick:
A) 399.8
B) 383.8
C) 120.8
D) 288.8
E) 172.8
When compounded annually, interest   = 12000[1 + 24/100]1 - 12000 = Rs.2880   When compounded semi-annually, interest   = 12000[1 + 12/100]2 - 12000 = Rs.3052.80   Required difference = 3052.80 - 2880 = Rs.172.80   Answer:172.8
<result>E</result>
What is the difference between the compound interest on Rs.12000 at 24% p.a. for one year when compounded yearly and half yearly?