Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 year

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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

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