Question

15.Ram Invested 60,000 at an interest rate of 12% P.A. compounded half
yearly. What amount would he get.
(1) After 6months
(2) After 1year
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Answer 1

Step-by-step explanation:

1) A =60000(1+0.12/2)^2×0.5

A =60000(1.06)^1

A =63,600

2) A= 60000(1+0.12/2)^2×1

A= 60000(1.06)^2

A= 67,416