Question

vasudevan invested Rs. 60000at an interest rate of 12% pa compounded half yearly. what amount would he get?​

Answer 1

Answer:

If compunded half yearly,

N=1/2*2=1 half years

R=12/2=6%

P=Rs.60000

Amount of compound interest is given as,

$A=P{ \left( 1+\frac { R }{100} \right) }^{ n }$

$A=60000{ \left( 1+\frac { 6 }{ 100 } \right) }^{ 1 }$

$A=60000{ \left( \frac { 106 }{ 100 } \right) }$

$A=Rs.63600$