What will Rs.1,25,000amount to, after 1 1/2
year at the rate of 6% p.a.
when the interest is compounded half- yearly?
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1
Answer:
Amount is Rs 132651.
Step-by-step explanation:
Principal (p) = Rs 125000
Rate (r) = 6% per annum
Time (t) = 1 year
Since interest is compounded after 4months, interest will be counted as 6/3
= 2% and
Time will be 12/4 = 3quarters
By using the formula,
A = P (1 + R/100) n
= 125000 (1 + 2/100)3
= 125000 (102/100)3
= Rs 132651
Amount is Rs 132651.
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