5 Vasudevan invested Rs 60,000 at an interest rate of 12% per annum compounded half yearly. What amount would he get
(ii) after 1 year?
Principal, P = Rs 60,000
Compound interest rate, R = 12% p.a
= 6 % half yearly
For a period of 1 year. Time period, n = 2 half years (As there are 2 half years in a year.)
We know, Amount when interest is compounded annually, A =
After 1 year, Vasudevan would get an amount Rs. 67416.
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