Question

Vasudevan invested rs.60000 at an intrest rate of 10% per annum compounded half yearly.what amount would he get after 1*1/2

Answer 1

the sum of money invested by vasudevan p = ₹ 60,000

since, the rate of interest compounded half yearly.

rate = 10% per annum = 10 / 2 = 5 % half yearly

time = 1 whole 1/ 2 yr = 3/ 2 yr

=1.5 yr = 3 half years

Find the required amount :

Amount = p [ 1 + ( r /100) ]^t

Amount = 60,000 [ 1 + ( 5 / 100) ]^3

Amount = 60,000 ( 105/ 100 )^3

Amount = 60,000 ( 21 / 20 )^3

= 60,000 × (21/20) × (21 /20) × (21/20)

= ( 60 × 21 × 21 × 21 ) ÷ 8

= 555660 ÷ 8 = ₹ 69457.5

therefore , the required amount he will get = ₹69457.5

Answer : amount = ₹ 69457.5

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