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Vasudevan 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? |
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Answer» As amount invested is compounded half-yearly, Rate of interest, `r = 12/2 = 6%` per half-yearly Amount invested, `P = 60000` Rs (i) Amount after 6 months, `A_1 = 60000**(1+6/100)^1 = 60000**53/50 = 63600 ` Rs (ii)In one year, time(t) will be `2`. Amount after one year, `A_2 = 60000**(1+6/100)^2 = 60000**53/50**53/50 = 67416` Rs |
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