Question

Ram invested ₹ 10000 at the interest rate of 10% per annum compounded half yearly. What amount would he get after one and half year? *

Answer 1

Answer:

Rs.11025

Step-by-step explanation:

Given; P = Rs.10000, R = 5% (per half year) and T = 1 year or 2 half years

Amount = P(1 +r/100)²

= Rs.10000(1 + 1/20)²

= Rs.10000 × 21/20 × 21/20

= Rs.11025

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