The compound interest on ₹10,000 at 20% per annum is ₹4,641. If the compounding is done half-yearly, then for how many years was the sum invested?

SSC SSC CGL Tier 2 Easy Interest MCQ

Question

The compound interest on ₹10,000 at 20% per annum is ₹4,641. If the compounding is done half-yearly, then for how many years was the sum invested?

Options

A.

4

B.

6

C.

3

D.

2

compound interesthalf-yearly compoundingtime calculationinterest rate

Solve This Question

Get instant feedback with detailed step-by-step solution

Start Solving →

Continue Practicing