Compound Interest Practice Test 3

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Question : 35 of 40

Marks: +1, -0

Suman invested Rs 12,500 for two years at interest 8% per annum compounded half yearly. Find the amount received by her?

Rs 14,625
Rs 19,200
Rs 13,780
Rs 15,720
Rs 16,666

Solution:

Amount

=(1+r/{100×2})^{2t}=12500(1+4/100)^4

≈ Rs 14,625

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