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    Question

    A certain sum of money is lent for one year at 10%

    annual compound interest rate. If the interest is compounded half-yearly instead of yearly, ₹240 more will be received. Find the principal amount lent.
    A ₹96,000 Correct Answer Incorrect Answer
    B ₹88,000 Correct Answer Incorrect Answer
    C ₹92,000 Correct Answer Incorrect Answer
    D ₹84,000 Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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