Question

manu deposited 12000 rupees in a bank which pays interest compounded half yearly The annual rate of interest is 8 Percentage How much would he get back after one year? with step correct answer only please send fastly exam​

Answer 1

Given :-

• Principal = Rs.12000 .
• Rate = 8% compounded half yearly .
• Time = 1 year .

To Find :-

• Amount = A = ?

Solution :-

we know that, when rate is compounded half yearly,

• Rate = Half .
• Time = Double .

so,

• Rate = 8/2 = 4%
• Time = 1 * 2 = 2 years.

Putting all values we get,

→ A = P[1 + (R/100)]^T

→ A = 12000[1 + (4/100)]²

→ A = 12000[1 + (1/25)]²

→ A = 12000(26/25)²

→ A = (12000 * 676)/625

→ A = Rs.12979.2 (Ans.)

Learn more :-

CI in 2yr is Rs. 1600 and in 3 yrs it will be Rs. 1700. Find the rate of interest.

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