Interest is calculated on a half-yearly compounding basis, yielding 20% per annum on a sum. ₹8,500 is invested on 1 January and a further ₹8,500 is invested on 1 July of the same year. Find the total interest received at the end of the year.
Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM
Options
- (A) ₹2,680
- (B) ₹2,540
- (C) ₹2,635
- (D) ₹2,525
Verified Answer
Option (C): ₹2,635
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