Sudharshan invested Rs. 15,000 at interest @ 10 p.c.p.a for one year. If the interest is compounded every six months what amount will Sudharshan get at the end of the year?
As the interest is compounded every six months, the effective rate of interest is 5% p.a and the number of terms is two.
Hence, the total amount that Sudharshan receives at the end of the year is 15000*1.05*1.05 = Rs. 16,537.5
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