31.Albert invested an amount of Rs.8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit ?
A. Rs. 8600 B. Rs. 8620
C. Rs. 8840 D. Rs. 8820
Answer:
Amount =Rs.[8000x(1+5/100)²]
= Rs.[8000 x 21/20x21/20]
= Rs.8820.
