Question

total amount for 12 lakh with 12% interest rate for 1 year
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Answer 1

Answer:

1344000

Total money =12 lakh

Total interest money in 1 year = 12lakh ×12/100 =144000

Total amount = 12lakh + 144000=1344000

Answer 2

Step-by-step explanation:

Rate=12% per year

time - 9 months

interest in compounded quarterly

principal= 1 lakh

We know that when interest is compounded quarterly

time will be 4 times, and rate is divided by 4

so,

our time is 9*4 = 36 months = 3 years

our rate is=12/4 = 3% per year now.