Advertisements
Advertisements
Question
Vasudevan invested Rs 60000 at an interest rate of 12% per annum compounded half yearly. What amount would he get
(1) after 6 months?
(2) after 1 year?
Advertisements
Solution
1) P = Rs 60,000
Rate = 12% per annum = 6% per half year
n = 6 months = 1 half year
A = `P(1 + R/100)^n`
= Rs `[60000(1+6/100)^1] = Rs (60000 xx 106/100) = Rs 63600`
2) There are 2 half years in 1 year.
n = 2
A = Rs `[60000(1 + 6/100)^2] = Rs (60000 xx 106/100 xx 106/100) = Rs 67416`
APPEARS IN
RELATED QUESTIONS
Roma borrowed Rs 64000 from a bank for \[1\frac{1}{2}\] years at the rate of 10% per annum. Compute the total compound interest payable by Roma after \[1\frac{1}{2}\] years, if the interest is compounded half-yearly.
Anil borrowed a sum of Rs 9600 to install a handpump in his dairy. If the rate of interest is \[5\frac{1}{2} %\] per annum compounded annually, determine the compound interest which Anil will have to pay after 3 years.
Find the amount of Rs 4096 for 18 months at
Find the amount and the compound interest on Rs 8000 for \[1\frac{1}{2}\] years at 10% per annum, compounded half-yearly.
Kamal borrowed Rs 57600 from LIC against her policy at \[12\frac{1}{2} \%\] per annum to build a house. Find the amount that she pays to the LIC after \[1\frac{1}{2}\] years if the interest is calculated half-yearly.
Romesh borrowed a sum of Rs 245760 at 12.5% per annum, compounded annually. On the same day, he lent out his money to Ramu at the same rate of interest, but compounded semi-annually. Find his gain after 2 years
Find the principal if the interest compounded annually at the rate of 10% for two years is Rs 210.
In what time will Rs 4400 become Rs 4576 at 8% per annum interest compounded half-yearly?
A certain sum amounts to Rs 5832 in 2 years at 8% compounded interest. Find the sum.
Sum of money amounts to Rs 453690 in 2 years at 6.5% per annum compounded annually. Find the sum.
