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Mr. Yashwanth invested money in FD. How much will he get on maturity, if Rs. 10000 in invested at 20% per annum compound interest for 6 months, compounded quarterly? A. 11025.25 B. 11025 C. 11025.75 D. 11025.5

Mr. Yashwanth invested money in FD. How much will he get on maturity, if Rs. 10000 in invested at 20% per annum compound interest for 6 months, compounded quarterly? A. 11025.25 B. 11025 C. 11025.75 D. 11025.5 Correct Answer B

P = 10,000, r = 20% and time = 6 month

If interest compounded quarterly, then

r = 20/4 = 5% and time = 6/2 = 2 quarters

As we know,

A = P (1 + r/100)t

⇒ A = 10000 (1 + 5/100)2

⇒ A = 10000 × 21/20 × 21/20

∴ A = Rs. 11025

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