Question

The interest earned on investing Rs. 8000 for 2 years at the rate of 20% p.a., compounded annually, is used to purchase an article. If the article is later sold at 24% profit, then find the selling price of the article.

A Rs. 4354.8
B Rs. 4464.8
C Rs. 4864.8
D Rs. 4364.8
E None of these
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