find the amount and the compound interest on₹12,000 in one year at 10 peresent per annum compounded half-yearly
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Answer:Hence, the compound interest is Rs. 2,520
Step-by-step explanation:
Here P=12,000 Rs., n=2 years, R=10
Amount(A)=P(1+
100
R
)
n
=12000(1+
100
10
)
2
=12000(
10
11
)
2
=
100
12000×121
=14,520 Rs.
Compound interest(C.I)=A−P=14,520−12,000=2520
Hence, the compound interest is Rs. 2,520
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