Question

Varun makes a deposit of rs 100000 in the bank for the period of 2 years.if the rate of interest be 12%per annum compounded half-yearly what amount will he get after 2 years

Answer 1

SI= PTR/100
SI= 100000*2*12/100
SI=1000*2=2000*12=24000
SO, SI means simple interest = 24000

AMOUNT = P+SI
= 100000+24000
= 124,000
SO 124000 IS THE AMOUNT.....

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