Question

Suppose an investment of Rs. 20,000 is made in a financial scheme where the interest is compounded annually. The interest rate for the first year is 12% per annum, and for the second year, it increases to 15% per annum. Calculate the total amount accumulated at the end of two years.

A Rs. 25,840
B Rs. 27,560
C Rs. 25,760
D Rs. 27,360
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