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Study the following graph carefully and answer the following questions given below.
If the savings scheme D offers compound interest (compounded half yearly) at the rate of 16 p.c.p.a, what would be sum of interests earned by Vikram and Deepa from savings scheme D after one year?
  • a)
    Rs.10,244/-
  • b)
    Rs.10,464/-
  • c)
    Rs.9,872/-
  • d)
    Rs.9,984/-
  • e)
    Rs.9,442/
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Study the following graph carefully and answer the following questions...
Sum of interests earned by Vikram and Deepa = 60000(1+8/100)²-60000
= 60000(27/25)²-60000
= 60000(729-625)/625
= 60000×104/625 = Rs. 9,984/-
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Study the following graph carefully and answer the following questions given below.If the savings scheme D offers compound interest (compounded half yearly) at the rate of 16 p.c.p.a, what would be sum of interests earned by Vikram and Deepa from savings scheme D after one year?a)Rs.10,244/-b)Rs.10,464/-c)Rs.9,872/-d)Rs.9,984/-e)Rs.9,442/Correct answer is option 'D'. Can you explain this answer?
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