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. 8820
D . None of these
Answer: Option C
Amount = Rs. 8000 x 1 + 5 2 100 = Rs. 8000 x 21 x 21 20 20 = Rs. 8820.
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