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Question 5 (i)
​Vasudevan invested Rs. 60,000 at an interest rate 12% per annum compounded half yearly. What amount would he get:
(i) After 6 months?

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Solution

(i) Here , Principal (P) = Rs 60,000
Time (n) = 6 months = 1 year (Compounded half yearly)
Rate of interest (R) = 12% = 6% (compounded half yearly)
Amount (A) = P(1+R100)n=60000(1+6100)1=60000(1+350)1
=60000(5350)1=6000×5350
= Rs.63,600
After 6 months Vasudevan would get amount Rs 63,600.

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