II. What will Rs. 2000 amount to in two years if it is invested in 20% p.a.
compound interest, interest being compounded semiannually?
A) Rs. 2880
B) Rs. 3160
C) Rs. 2928.20 D) Rs. 3148.40
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Answer:
A = $ 2,928.20
A = P + I where
P (principal) = $ 2,000.00
I (interest) = $ 928.20
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