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Given,
Principal, P = Rs 60,000
Compound interest rate, R = 12% p.a
= 6 % half yearly
For a period of 6 months.
Time period, n = 1 half year (As there is 1 half year in 6 months.)
We know, Amount when interest is compounded annually, A =
After 6 months, Vasudevan would get an amount Rs. 63600.