Question

magesh invested 5000 at 12% p a for a year. if the interest compounded half yearly find the amount he gets at the end of the year​

Answer 1

Answer:

So magesh will get 5618 at the end of 1 year

Step-by-step explanation:

We have given that magesh invested 5000 at a rate of 5% for a year

It is given that interest is compounded half yearly

So now interest $=\frac{12}{2}=6$ %

Period = 1×2 = 2

We have to find the amount which he gets at the end of 1 year

We know that amount is given by

$A=P(1+\frac{r}{100})^n$, here P is principle amount r is rate of interest and n is time period

So $A=5000(1+\frac{6}{100})^2=5618$

So magesh will get 5618 at the end of 1 year