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Question

Question 5 (ii)
Vasudevan invested Rs 60,000 at an interest rate of 12% per annum compounded half yearly. What amount would he get:
(ii) After 1 year?

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Solution

(ii) Here, Principal (P) = Rs 60,000.
Time(n) = 1 year = 2 year ( Compound half yearly)
Rare of interest (R) = 12% = 6% ( Compound half yearly)
Amount (A) = P(1+R100)n=60000(1+6100)2=60000(1+350)2
=60000(5350)2=6000×5350
=RS. 67,416
After 1 year Vasudevan would get amount Rs 67,416.

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