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    P invested Rs.20000 in scheme A for two years which was offering compound interest at the rate of 20% p.a. Find the interest received.
    Question


    P invested Rs.20000 in scheme A for two years which was offering compound interest at the rate of 20% p.a. Find the interest received.

    A.

    8500

    B.

    9000

    C.

    8000

    D.

    8800

    E.

    7000

    Correct option is D


    Composite compound interest for 2 years=

    Required interest = 20000×44/100=Rs. 8800

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