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Sanjay invests ₹8000 for 1 year at 10% per annum, with interest compounded half-yearly. What compound interest does he earn (in ₹)?

Competition practiceSimple & Compound Interest
  • A800
  • B820
  • C840
  • D810

Step-by-Step Solution

Half-yearly rate = 5%, 2 periods. Amount = = ₹8820. CI = 8820 − 8000 = ₹820.
Answer: B) 820

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