Saroj deposited Rs. 5,00,000 in a commercial bank for 2 years at 10% p.a. compounded half-yearly. But after 1 year the bank changed its policy and decided to give compound interest compounded quarterly at the same rate. The bank charges a 5% tax on the interest as per the government's rule. (a)How much net interest did he get in the first and second year?
(b) What is the percentage difference 2100 between the interest of the first year and the second year after paying tax?
