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Vasudevan invested ₹ 60000 at an interest rate of 12% per annum compounded half yearly. What amount would he get after 1 year?

Vasudevan invested ₹ 60000 at an interest rate of 12% per annum compounded half yearly. What amount would he get 
after 1 year? 

Grade:12

1 Answers

Harshit Singh
askIITians Faculty 5963 Points
3 years ago
Dear Student

P =₹60,000
Rate = 12% per annum = 6% per half year
There are 2 half years in 1 year.
n = 2
Amount, A =P (1 +R/100 )^n
=₹ [60000(1+ 6/100 )^2]
=₹ [60000 × (3/50)^2]
=₹[60000×53/50 x 53/50]
=₹67416

​Thanks

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