Question
A sum of ₹20,000 is invested at an annual interest
rate of 10% compounded half-yearly. What will be the total amount after 2 years?Solution
A = P(1 + r/n)^(nt) A = 20,000(1 + 0.05)^4 = 20,000 × 1.2155 = ₹24,310. Correct Option: b) ₹24,310
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