Question

Vasudevan invested ₹60,000 at an interest rate of 12% per annum compounded half yearly. What amount would he get after 6 months?

• A. ₹63,600
• B. ₹66,600
• C. ₹68,900
• D. ₹64,100

Answer 1

The correct option is A

₹63,600

Here , Principal (P) = ₹60,000
Time (n) = 6 months
Rate of interest (R) = 12%
(compounded half yearly)

$Amount\left(A\right)=P{(1+\frac{R}{2\times 100})}^{2n}=60000{(1+\frac{12}{200})}^{2\times \frac{1}{2}}=60000{(1+\frac{6}{100})}^1=60000{(1+\frac{3}{50})}^1$
$=60000{\left(\frac{53}{50}\right)}^1=6000\times \frac{53}{50}=₹63,600$

After 6 months Vasudevan would get ₹63,600.