Question

Ram invested Rs 60,000 at an interest rate of 12% per annum compounded half yearly .What amount would he get (i)after 6 month

(ii) after 1 year

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Answer 1

Answer:

Step-by-step explanation:

A=P(1+ R/100) raise to 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+0.06)

⇒A=60000×(1+0.06)

A=63600

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⇒A=60000×(1+0.06)

⇒A=63600

(ii)  After 1 year-

As the interest is compounded half-yearly,

n=12 months=2

∴A=60000×(1+ 6/100)

A=60000×(1+0.06)

A=60000×(1+0.06)

A=60000×(1+0.06)

A=67416

⇒A=67416

Hence the amount he get after 6 months and 1 year will be Rs.63600 and Rs.67416 respectively.

hope you like the answer !!!!

Answer 2

Answer:

Answer:

Step-by-step explanation:

A=P(1+ R/100) raise to 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+0.06)

⇒A=60000×(1+0.06)

A=63600

⇒A=60000×(1+0.06)

⇒A=63600

(ii)  After 1 year-

As the interest is compounded half-yearly,

n=12 months=2

∴A=60000×(1+ 6/100)

A=60000×(1+0.06)

A=60000×(1+0.06)

A=60000×(1+0.06)

A=67416

⇒A=67416

Hence the amount he get after 6 months and 1 year will be Rs.63600 and Rs.67416