find interest a) 6000 lent at 12% p.a. compounded annually for 3/2 years b) 6000 lent at 12% p.a. compounded half yearly for 3/2 years
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Answer:
Principal = 6000
Rate of Interest = 12%
Time = 3/2 years
S.I. = P × R × T/100
= 6000 × 12 × 3/100 × 2
= 1080
Amount = P + S.I.
= 6000 + 1080 = 7080
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