Answer:
![1.159\%](https://tex.z-dn.net/?f=1.159%5C%25)
Step-by-step explanation:
Given: Principal or P
.
Rate or R
per annum compounded annually.
Time or T
years.
To find: Percentage difference between compound interest of first year and second year.
Solution:
First year interest
.
First year amount
.
For the second year, the interest is compounded semi-annually.
So, time is doubled and the rate is halved.
Second year compounded amount
.
Second year compound interest
.
Difference in interest of first and second year
.
Percentage difference
.
Hence, the percentage difference between compound interest of first year and second year is
.