Answer:
After three years, the amount in said account will be Rs $ 119,015.57.
Step-by-step explanation:
Given that Ashwin deposited rupees 75000 in a bank where the interest is credited half yearly to find the amount he will receive after 3 years at 16% per annum, the following calculation has to be made:
X = 75000 x (1 + 0.16 / 2)^3x2
X = 75000 x 1.08^6
X = 119,015.57
Thus, after three years, the amount in said account will be Rs $ 119,015.57.
