Question 1:

Albert invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a.
How much amount will Albert get on maturity of the fixed deposit?

A. Rs. 8600

B. Rs. 8820

Feedback Amount = [8000 * (1 + 5/100)2]
= 8000 * 21/20 * 21/20
= Rs. 8820

C. Rs. 8200

D. None of these

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