A sum of money is put out at compound interest for 2 years at 20%. It would fet

Question

A sum of money is put out at compound interest for 2 years at 20%. It would fetch Rs.482 more if the interest were payable half-yearly, then it were pay able yearly. Find the sum.

Options:

A . Rs.4000

B . Rs.1000

C . Rs.1250

D . Rs.2000

Answer: Option D

P(11/10)⁴ - P(6/5)² = 482

P = 2000

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