Sign in
Please select an account to continue using cracku.in
↓ →
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
Was this solution helpful?
Create a FREE account and get:
Start your IIM journey with the right preparation and crack CAT 2026.
Educational materials for CAT preparation