Mathematics · Compound Interest
A sum was lent for one year at the rate of 16% per annum on compound interest (compounding annually). If the compounding had been done half-yearly, then the interest would have increased by Rs. 64. What was the sum lent?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 20,000
- 2Rs. 14,000
- 3Rs. 6,000
- 4Rs. 10,000✓
Correct answer
Rs. 10,000
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