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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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