Find the compound interest on 12000 for 1 1/2 yrs for 8% per annum compounded half yearly
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Answer:
Step-by-step explanation:
Given - Principal = 12000
Rate of interest = 8%
Years = 1.5
Amount = Principal (1 + R / 100) raised to N
= 12000 (1 + 8 / 100) raised to 1.5
= 12000 x 27 / 25 x 13.5 x 12.5
= 480 x 27 x 13.5 / 12.5
= 38.4 x 27 x 13. 5
= 13996.8
Therefore amount will be rs. 13996.8
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