find the compound interest on Rs. 20,000 at 12% p.a. foe 6 months compounded quarterly
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Answer:
principal = Rs 20,000
Time = 12%
rate = 6 months = 6 /12 months = 0.5months
Compound interest / Simple interest = P× R× T
100
= 20000 × 12 × 0.5
100
= Rs 1200 is the answer.
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