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Vasudevan invested ₹ 60000 at an interest rate of 12% per annum compounded half yearly. What amount would he get after 6 months?

Vasudevan invested ₹ 60000 at an interest rate of 12% per annum compounded half yearly. What amount would he get 
after 6 months? 

Grade:12

1 Answers

Harshit Singh
askIITians Faculty 5872 Points
3 months ago
Dear Student

P =₹60,000
Rate = 12% per annum = 6% per half year
n = 6 months = 1 half year
Amount, A =P (1 +R/100 )^n
=₹ [60000(1+ 6/100 )^1]
=₹ [60000 × (3/50)^1]
=₹[60000×53/50 ]
=₹63600

​Thanks

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