Answer :

Present value = Rs.6000


Interest rate = 10 % per annum


Time = 1 years


Interest is compounded half-yearly.


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


R = Annual interest rate


n = Time in years]


A = 6000 [1 + (10/2)/100]2


A = 6000 [1 + 5/100]2


A = 6000 [1 + 1/20]2


A = 6000 [21/20]2


A = 6000 × 21/20 × 21/20


A = 300 × 21 × 21/20


A = 15 × 21 × 21


A = 6615


Amount = Rs.6615


Compound interest = Rs.(6615 – 6000)


= Rs.615


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