Question

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?

Answer 1

(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) = $P{(1+\frac{R}{100})}^n=60000{(1+\frac{6}{100})}^1=60000{(1+\frac{3}{50})}^1$
$=60000{\left(\frac{53}{50}\right)}^1=6000\times \frac{53}{50}$
= Rs.63,600
After 6 months Vasudevan would get amount Rs 63,600.