Question

Find the amount of 12000 rupees at 10% per annum compounded half yearly for one and a half years

Answer 1

Answer:

₹ 13,891.50

Step-by-step explanation:

Deposit = ₹ 12,000

Interest rate = 10% per annum

iInterest will be compounded semi-annually.

Time = 1.5 years

$f \: = 12000 \times (1 + \frac{0.1}{2} ) ^{2 \times 1.5} \\ \implies \: f = 12000 \times {1.05}^{3} \\ \implies \: f = 13891.50$