A sum of ₹12,000 is invested at 10% per annum, compound interest, compounded half-yearly. What is the amount after 1.5 years?
₹13,891.50
Compounded half-yearly, the half-year rate is \(\tfrac{10}{2}=5\)% and the number of periods for 1.5 years is 3.
Amount: \(A = 12000\times(1.05)^3 = 12000\times1.157625 = 13891.50\).
Hence, the amount after 1.5 years is ₹13,891.50.
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