The difference between simple and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is? Choose the correct choice from the following options
A) Rs. 2.50
B) Rs. 3
C) Rs. 3.75
D) Rs. 4
E) Rs. 5
S.I. = (1200 * 10 * 1)/100 = Rs. 120   C.I. = [1200 * (1 + 5/100)2 - 1200] = Rs. 123 Difference = (123 - 120) = Rs. 3.   ANSWER:Rs. 3
<result>B</result>
The difference between simple and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is?