Question

the compound interest on 10000 at 12% per annum for 3/2 years, compounded annually, is:

ANSWER IS= 1872

PLEASE EXPLAIN STEP BY STEP
​​

Answer 1

Answer:

1872

Step-by-step explanation:

P=10000

R=12%

T = 1.5 years

Interest at the end of first year

=10000*12*1/100g

=1200

Amount at the end of first year

=10000+1200

=11200

(As we know half year interst is left , for half year we have to divide rate by 2)

Now , rate =12/2=6

Interst at the end pf next half year

=11200*6*1/100

=672

Amount at the end of last half years

=11200+672

=11872

Compound Interest

= Amount - Principal

=11872-10000

=1872

Answer 2

Answer:

compound interest=principal ×(1+Rate/100)time as power

=10000×(1+12/100)3/2 as power

=10000×(112/100) 3/2as power

to solve time we multiply 112/100 by 3/2

so answer of multiply is 42/25

now multiply it by 10000

so the answer is 1848