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12000\left(1+\frac{3\times 1}{100\times 12}\right)
Multiply \frac{3}{100} times \frac{1}{12} by multiplying numerator times numerator and denominator times denominator.
12000\left(1+\frac{3}{1200}\right)
Do the multiplications in the fraction \frac{3\times 1}{100\times 12}.
12000\left(1+\frac{1}{400}\right)
Reduce the fraction \frac{3}{1200} to lowest terms by extracting and canceling out 3.
12000\left(\frac{400}{400}+\frac{1}{400}\right)
Convert 1 to fraction \frac{400}{400}.
12000\times \frac{400+1}{400}
Since \frac{400}{400} and \frac{1}{400} have the same denominator, add them by adding their numerators.
12000\times \frac{401}{400}
Add 400 and 1 to get 401.
\frac{12000\times 401}{400}
Express 12000\times \frac{401}{400} as a single fraction.
\frac{4812000}{400}
Multiply 12000 and 401 to get 4812000.
12030
Divide 4812000 by 400 to get 12030.