Mr Sharma deposit a sum of rupees 6000 in a bank at the rate of 12 per year find the amount received by him at the end of 4 years 6 months
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Priniciple =Rs 6000
Rate of interest = 12%
Time = 4years6months = 4 × 12 + 6/12 = 54/12year
SI= P×R×T/100
= Rs 6000 × 12 × 54/100 x 12
=Rs 60 X 54
=Rs 3240
Amount = P + SI
=Rs6000+Rs 3240
=Rs 9240
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