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An amount was lent for two years at the ...

An amount was lent for two years at the rate of `20%` per annum compounded annually. Had the compounding been done half yearly, the interest would have Increased by `Rs. 241`. What was the amount (in Rs.) lent?

A

10000

B

12000

C

20000

D

24000

Text Solution

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The correct Answer is:
A
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