Question

    A sum of ₹1,00,000 was taken from a bank at the rate

    of 7% p.a to be compounded annually for 5 years. Calculate the compound interest. (Closest to a ₹)
    A ₹40,000 Correct Answer Incorrect Answer
    B ₹20,963 Correct Answer Incorrect Answer
    C ₹40,567 Correct Answer Incorrect Answer
    D ₹40,255 Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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