A certain loan was returned in two equal half yearly installments each of Rs. 6760. If the rate of interest was 8% p.a. compounded yearly, how much was the interest paid on the loan?
A. Rs. 790
B. Rs. 770
C. Rs. 750
D. Rs. 810
Answer: Option B
Solution (By Examveda Team)
8% → yearly4% → half yearly
4 → $$\frac{1}{{25}}$$
This Question Belongs to Arithmetic Ability >> Compound Interest
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