the compound interest on rs 2000 at 12% p.a is maximum when the interest is compound
a. half yearly y
b. quarterly
c. yearly
d. monthly
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option c is correct
plz mark me a brainliest answer
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Answer:
The compound interest on rs 2000 at 12% p.a is maximum when the interest is compound monthly. The option 'D' is the correct answer.
Step-by-step explanation:
Step 1
The formula of compound interest is
A=P where
A=final amount
P=initial principal balance
r=interest rate
n=number of times interest applied per time period
t=time
Step 2
The compound interest will be maximum with the shortest period of time. Here monthly is the shortest period.
Hence, the compound interest on rs 2000 at 12% p.a is maximum when the interest is compound monthly.
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