Question

Waseem invested Rs 60.000 at an interest rate of 12% per annum compounded half
yearly. What amount would he get
(i) after 6 months?
(ii) after 1 year?
​

Answer 1

in this first we know that when we calculate interest . compounded half yearly . so formula is

A= P(1+r/100)t. here rate should be half and time will double .

A= 60000(1+6/100)2

60000 ( 53/50*53/50)

168540000/2500

67416 after one year he will get .

and for 6 month .

time you can directly half the amount.

hope it will help