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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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