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₹16,000 is invested at 10% per annum, compounded half-yearly. What is the compound interest for 1 year? (answer in ₹)

Competition practiceSimple & Compound Interest
  • A1640
  • B1600
  • C1680
  • D1625

Step-by-Step Solution

Half-yearly rate = 5%, 2 periods. Amount = , so CI = ₹1,640.
Answer: A) 1640

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