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?

(i) Here, Principal (P) = Rs. 60,000,

Time, n = 6 months = 1 year(compounded half yearly)

Rate of interest (r) = 12% = 6% (compounded half yearly)

Amount (A) =

= Rs. 63,600

After 6 months Vasudevan would get amount Rs. 63,600.

(ii) Here, Principal (P) = Rs. 60,000,

Time, n = 1 year = 2 year(compounded half yearly)

Rate of interest (r) = 12% = 6% (compounded half yearly)

= Rs. 67,416

After 1 year Vasudevan would get amount Rs. 67,416