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Finding CI When Rate Compounded Anually or Semi - Anually

The compound ...

Question

The compound interest calculated yearly for a certain sum of money for second year is Rs. 880 and Rs.968 for the third year. Calculate the rate of interest and sum of money.

A

8%, 8000

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B

10%, 8800

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C

10%, 8000

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D

8%, 8800

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E

12%, 8000

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Solution

The correct option is C
10%, 8000

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Finding CI When Rate Compounded Anually or Semi - Anually

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