Sarita Deposited Rs 20,000 at 8 % per anum for 2 years which has to be compounded half yearly. She receives an amount of Rs 23,200 instead of Rs 23,397.17 at the end of 2 years. She complains this to bank. At the bank, the manager observes the mistake made and paid the actual amount to Sarita. Find out the mistake done at the bank's end.
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the bank calculated simple interest with per annum instead of compound interest per half year
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Step-by-step explanation:
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