A student wants to invest Rs.16,000 at 3% per annum, with interest compounded half-yearly. Find the compound interest received after 2 years. [Given that (1.015)⁴ = 1.0614]
Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM
Options
- (A) Rs.782.40
- (B) Rs.900.10
- (C) Rs.982.40
- (D) Rs.880.20
Verified Answer
Option (C): Rs.982.40
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