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Question

Rishi invested a sum of money for 2 years in a simple interest scheme at an annual rate of 30%, and received Rs. 7200 at the end of this period. Calculate the interest earned if the same amount is invested for 1 year at a compound interest rate of 30%, with interest being compounded every six months.

A Rs. 5951.25

B Rs. 4967.87

C Rs. 5542.25

D Rs. 5266.75

E None of these

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