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A certain loan was returned in two equal half yearly installments...

This question belongs to Arithmetic Ability Compound Interest
Compound Interest
?

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?

Answer & Solution
Correct Answer: Option B
8% → yearly
4% → half yearly
4 → $$\frac{1}{{25}}$$
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