If interest is compounded half-yearly, find the compound interest on ₹8,000 at the rate of 20% per annum for 1 year.

Question

If interest is compounded half-yearly, find the compound interest on ₹8,000 at the rate of 20% per annum for 1 year.

Options

A.

₹1,675

B.

₹1,690

C.

₹1,685

D.

₹1,680

compound interesthalf-yearly compoundingpercentageinterest calculation

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