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image_path = "/mnt/data/1732677700572udnl8v44.jpg" img = Image.open(image_path)

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img.show()It seems that I've displayed the image, but I cannot analyze it visually. Let me attempt# Use pytesseract to extract text from the image extracted_text = pytesseract.image_toThe image contains a question about calculating the difference between compound interest for Rs. 40,000 over 2 years at 10% per annum, compounded yearly and half-yearly. Here are the options for the difference:

• Rs. 420.25
• Rs. 320.25
• Rs. 220.25
• Rs. 110.25

Let me walk you through solving this problem step by step.

Step 1: Compound Interest Formula

The formula for compound interest is:

$A = P \left(1 + \frac{r}{n}\right)^{nt}$

Where:

• $A$ = Total amount after interest
• $P$ = Principal amount
• $r$ = Annual interest rate (decimal)
• $n$ = Number of times the interest is compounded per year
• $t$ = Time in years

Step 2: Calculation of Compound Interest

Case 1: Compounded Yearly

Here, $n = 1$, so the formula becomes:

$A_{\text{yearly}} = 40000 \left(1 + \frac{10}{100}\right)^{2} = 40000 \times \left(1.10\right)^{2}$

Case 2: Compounded Half-Yearly

Here, $n = 2$, so the formula becomes:

[ A_{\text{half-yearly}} = 40000 \left(1 + \frac{10}{200}\right)^{4} = 40000 \times \left(1.05\right)^{4} \ Given data P = 40000 # Principal amount r = 10 / 100 # Annual interest rate (10%) t = 2 # Time in years

Compounded yearly (n = 1)

n_yearly = 1 A_yearly = P * (1 + r / n_yearly) ** (n_yearly * t)

Compounded half-yearly (n = 2)

n_half_yearly = 2 A_half_yearly = P * (1 + r / n_half_yearly) ** (n_half_yearly * t)

Calculate the compound interest in both cases

CI_yearly = A_yearly - P CI_half_yearly = A_half_yearly - P

Calculate the difference between the two

difference = CI_half_yearly - CI_yearly

A_yearly, A_half_yearly, CI_yearly, CI_half_yearly, differenceAfter performing the calculations:

• Compound Interest (Yearly): Rs. 8,400
• Compound Interest (Half-Yearly): Rs. 8,620.25
• Difference in Compound Interest: Rs. 220.25

So, the correct answer is Rs. 220.25.

Would you like further clarification on any of the steps or need assistance with another question?

Follow-up Questions:

1. How would the compound interest change if the principal was Rs. 50,000 instead of Rs. 40,000?
2. How does the frequency of compounding (yearly vs. half-yearly) impact the total amount after a longer period, such as 5 years?
3. What is the formula for calculating simple interest, and how does it differ from compound interest?
4. What would be the compound interest difference if the rate were 12% per annum instead of 10%?
5. How can you calculate the amount for monthly compounding?

Tip:

The more frequently the interest is compounded, the greater the effect of compounding. This is because interest is being calculated on the accumulated interest more