Find the amount and the compound interest on 24,000 for six months if the interest is payable quarterly at the rate of 20 paise a rupee per annum
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the principal=24000
time =6 months or 1/2 year
rate of the interest =20%
the compound interest=24000(1+20/400)^½×4
=24000(1+1/20)^2
=24000(21/20)^2
=24000×441/400
=60×441
=26460
the amount=26460+24000
=50460
time =6 months or 1/2 year
rate of the interest =20%
the compound interest=24000(1+20/400)^½×4
=24000(1+1/20)^2
=24000(21/20)^2
=24000×441/400
=60×441
=26460
the amount=26460+24000
=50460
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