Find the compound interest on rupees 12000 at 8 %p.a for 1year, the interest payable half yearly
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Step-by-step explanation:
Rate-8/2=4
Time-1*2=2
Principal =12000
Compound amount= p(1+r/100)^t
=12000(1+4/100)^2
=12000(1+1/25)^2
=12000(26/25)^2
=12979.2
Compound interest =compound amount-principal
Compound interest =12979.2 - 12000
=979.2
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