after 1 years?
2
Varun invested 50,000 at an interest rate of 12% per annum compounded half-yearly. What amount
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In question 'after 1 years' should be written after amount .So I am solving the question in this way
Answer : Amount after 1 year
P = RS 50,000
T=1 year,n=2
R= 12% p.a.= 6% per half
Amount =P(1+R/100)power n
= Rs. 50000*(1+6/100) power2
= Rs. 50000*53/50*53/50
=Rs. 20*53*53
=Rs. 56,180
Hence, The amount after 1 year =Rs.56,180
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