Question

Vasudevan invested $Rs.60000$ at an interest rate of $12\%$ per annum compounded half yearly. What amount would he get after $6$ months?

• A. $Rs.63600$
• B. $Rs.64600$
• C. $Rs.45600$
• D. $Rs.54600$

Answer 1

The correct option is A $Rs.63600$

Given

Principal amount $P=Rs.60000$

Rate, $R=12\%$ per annum $=6\%$ per half year

Time $T=6$ months $=1$ half year

$Amount=P{(1+\frac{R}{100})}^T$

$\therefore Amount$ after $6$ months

$=Amount$ after $1$ half year$=Rs.[60000\times {(1+\frac{6}{100})}^1]$

$=Rs.(60000\times \frac{106}{100})=Rs.63600$

Hence, the amount is $Rs.63600$