What is the simple interest on Rs 12000at the rate of 9 % for 4 months
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. Use the formula P x (1 + r/100) ^ n
for 1st qr. interest = 120 x 5 = 600; (new P = 12600)for second qr it is 126 x 5 = 630
(New P is 13,230)For 3rd qr it is 132.3 x 5 = 661.5
Total compound interest is = 600 + 630 + 661.5 =Rs. 1,891.50
As an exercise you can cross check with the formula
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