Mathematics · Compound Interest
A bank is offering the following options to a customer for interest on fixed deposits. Which option will be the most beneficial to the customer?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 110% per annum compounded yearly✓
- 29% per annum compounded half-yearly
- 38% per annum compounded quarterly
- 47% per annum compounded monthly
Correct answer
10% per annum compounded yearly
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