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      Question

      Sara deposited Rs. 18,000 into an investment that offers

      a compound interest rate of 20% per annum, with semi-annual compounding. Calculate the interest accrued by Sara after one and a half years.
      A Rs.5,000 Correct Answer Incorrect Answer
      B Rs.5,900 Correct Answer Incorrect Answer
      C Rs.5,950 Correct Answer Incorrect Answer
      D Rs.5,958 Correct Answer Incorrect Answer
      E none of these Correct Answer Incorrect Answer

      Solution

      ATQ, Interest earned by Sara =18000 × {(1 + 0.20/2)(1.5×2) – 1} = 18000 × {1.331 – 1}  = 18000 × 0.331  = Rs. 5,958

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