Answer :

Present value, P = Rs.20000

Interest rate, R = 6% per annum

Time, n = 1 years

∵ Compounded half-yearly.

∴ Amount (A) = P [1 + (R/2)/100]^{2n} [Where, P = Present value

R = Annual interest rate

n = Time in years]

∴ A = 20000 [1 + (6/2)/100]^{2}

⇒ A = 20000 [1 + 3/100]^{2}

⇒ A = 20000 [103/100]^{2}

⇒ A = 20000 × 103/100 × 103/100

⇒ A = 2 × 103 × 103

⇒ A = 21218

∴ Amount = Rs.21218

∴ Shella gets Rs.21218 after 1 year.

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