Find the compound interest on 12,000 at rate of interest of 12% for on – InterviewSolution

1.

Find the compound interest on 12,000 at rate of interest of 12% for one year, if the interestis being compounded half-yearly

Answer»

Amount = p(1+r/100)^2n

= 12000(1+12/100)²

= 12000*112*112/100*100

= 12*112*112/10

= 15052.8 rupees

Compound interest = 15052.8-12000

= Rs. 3052.8

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