Question

Surya invested Rs. 80000 at the rate of 8% p.a compounded half yearly. What amount would he get after 1 Year.

Answer 1

Answer:

67416

Step-by-step explanation:

As we know that,

A=P(1+

100

R

)

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+ 600+1

⇒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+ 100+2+6)

⇒A=60000×(1+0.06)

2

⇒A=67416

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