In what time will a sum of ₹1,25,000 amount to ₹1,48,877 at 12% per annum, if interest is being compounded half yearly?

$1\frac{1}{2}$ year $2\frac{1}{2}$ year 1 year 3 year

$1\frac{1}{2}$ year

Interest is compounded half yearly . So actual rate of interest = 6% With compound interest , Amount = P$(1 \;+\; \frac{R}{100})^t$ 148877 = 125000[ 1 + \(\frac{6}{100}\) ] \(\frac{53}{50}\)³ = [ \(\frac{53}{50}\) ]t So, t = 3 years .