Question

Find the compound interest on 12000 for 1 1/2 yrs for 8% per annum compounded half yearly

Answer 1

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