Find the compound interest of Rs 18000 for 1 ½ years at 12% per annum
compounded halfyearly ?
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Step-by-step explanation:
The formula is ptr/100
p= 18000, t = 1 ,r = 12%
= 18000×1×12/100
= 216000/100
= 2160 is the compound insterst
= still we have to solve with 1/2 year
= formula = p= [1+r/100] ^n
= 18000 = ( 1+12/100)^1/2
= 18000 = (112/100)^1/2
= 18000 = (1.12)^1/2
= 0.56 +2160 = 2160.56 is the answer.
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