16. Find the amount obtained by investing Rs. 48,000 at 25% p.a. compound interest, for one year,
compounded half yearly?*
(1 Point)
Rs. 54,000
Rs. 60,000
Rs 60,750
Rs. 75,000
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Principal=48000
Rate=25/2%=12.5%
Time=1 year(half yearly)
No of conversion period=2
Amount=p(1+r/100)^n
=48000(1+12.5/100)^2
=48000(1+125/1000)^2
=48000(1+5/40)^2
=48000(1+1/8)^2
=48000[(8+1)/8]^2
=48000(9/8)^2
=48000*9/8*9/8
=60750
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