Albert invested an amount of Rs.8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit ?
Options:
A . Rs. 8600
B . Rs. 8620
C . Rs. 8840
D . Rs. 8820
Answer: Option D
Amount=Rs.[8000x(1+5/100)2] =Rs. [8000 x 21/20x21/20] =Rs.8820.
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