Question

Vasudevan invested 60,000 at an interest rate of 12%
would he get after I year?
per annum compounded half yearly. What amount​

Answer 1

Answer:

As we know that,

A=P(1+100R)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+1006)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+1006)2

⇒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

Answer 2

Answer:

As we know that,

A=P(1+100R)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+1006)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+1006)2

⇒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.