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5.Vasudevan invested ₹ 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?


Answer :

(i) Given: P = ₹ 60,000, R = 12% p.a. compounded half yearly and n=6 months=\(\frac{6}{12}=\frac{1}2 \;year\)
∴ Simple Interest=\(\frac{P \times R \times n}{100\times 12}\)

=\(\frac{60,000\times 12 }{100}\times \frac{1}2\)

=\(₹ \;3600 \)

Therefore , we have Amount=P+SI

=₹ 60,000 + ₹ 3600

=₹ 63600

So the required amount =₹ 63600
(ii)We have given with :P = ₹ 60,000, R = \(\frac{12}2=6\)% and n=\(1\times 2=2\)half years.

So, we have amount=\(P(1+\frac{R}{100})^n\)

=\(60,000(1+\frac{6}{100})^2\)

=\(60,000(\frac{53}{50})^2\)

=\(60,000\times\frac{53}{50}\times\frac{53}{50}\)

=\(24\times2809=₹\; 67,416\)

Hence the required amount= ₹ 67,416