how long it will take for a sum of rupees 12000 invested at 5% per annum simple interest to amount of rupees
16000
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A sum of Rs.12000 is invested for 1.5 years which will be compounded half yearly at a rate of 10%. Find the amount obtained.
To find compound interest when interest is compounded half-yearly we use formula
A=P(1+ 2r ) 2n
Here, P=Rs.12000,r=10% and n=1.5 years
Hence,A=12000(1+0.05) 3
A=12000×1.157625
A=Rs.13891.5
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