Question

Amit invented ₹ 60,000 at an interest rate of 12% per annum compounded half

yearly. What amount

would he get after 6 months?​

Answer 1

Answer:

rupees=30,000 per month or annum in the year vompounted half

Answer 2

As we know that,

A = P $(1 + { \frac{R }{100}) }^{n}$

Whereas,

A= Amount

P= Principal

R= Rate

n= Time period

Given:-

Principal (P)=Rs.60000

Rate (r)=12%=6% per 6 months

(i) After 6 months-

As the interest is compounded half-yearly,

n=6 months=1

∴A=60000× $(1 + { \frac{6}{100}) }^{1}$

⇒A=60000×(1+0.06)

⇒A=63600