Arithmetic Ability
Compound Interest

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Q.

Albert invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a. How much amount will Albert get on maturity of the fixed deposit  ?

View Answer

Correct choice: D

Explanation:

Amount = 8000(1+5/100)2 = 8000 x 21/20 x 21/20 = Rs. 8820
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