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      Question

      Determine the compound interest earned on a principal

      amount of Rs. 10,000, which is invested at an annual interest rate of 42%, with interest being compounded semi-annually, over the course of one year.
      A Rs.4600 Correct Answer Incorrect Answer
      B Rs.4620 Correct Answer Incorrect Answer
      C Rs.4641 Correct Answer Incorrect Answer
      D Rs.4000 Correct Answer Incorrect Answer
      E none of these Correct Answer Incorrect Answer

      Solution

      ATQ, Rate = (42/2) = 21% per 6 months Desired interest = 10000 ├Ч [(1.21)2 тАУ 1] = 10000 ├Ч 0.4641 = Rs.4641

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