Calculate the amount on a sum of ₹2000 for one year at an interest rate of 12% per annum compounded every 2 months.

₹2,151.32

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₹2,252.32

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₹2,355.32

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₹2,382.32

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Solution

The correct option is B
₹2,252.32

Given:
P = ₹2000
R = 12% per annum, which will be 2% if compounded every 2 months
n = 6 (As 1 year has 6 two months in it)

Amount will be calculated by $A = P \times (1 + \frac{R}{100})^{n}$

Substituting the value we get,
$A = 2000 \times (1 + \frac{2}{100})^{6}$
$A = 2000 \times (1 + \frac{1}{50})^{6} A = ₹ 2, 252.32$

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Calculate the amount on a sum of ₹2000 for one year at an interest rate of 12% per annum compounded every 2 months.

The correct option is B ₹2,252.32 Given: P = ₹2000 R = 12% per annum, which will be 2% if compounded every 2 months n = 6 (As 1 year has 6 two months in it) Amount will be calculated by A=P × (1+R100)n Substituting the value we get, A=2000 × (1+2100)6 A=2000× (1+150)6A=₹2,252.32