Sarthaks Test
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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?

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Best answer

(i) after 6 months?

Solution: Amount = 60000+60000 x 6%=60000+3600=63600

(ii) after 1 year?

Solution: Amount = 63600+63600 6% = 63600+3816=67416

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