Question

A certain sum of money invested at a rate of 36% p.a.

Desired rate 512 36 15 Let the sum is Rs. P. So, 1.15 1.15 1.15 P 30417.5 Or, P 20000

amounts to Rs. 30417.5 at the end of 15 months if the rate of interest is compounded 5 monthly. Find the sum (in Rs.).

A 22000

B 23000

C 20000

D 21000

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