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1. Mohona deposits Tk 10,000 into a savings account that pays interest at an annual rate of 8%, compounded quarterly. After 6 months, how much interest has Mohona earned?

  • A. Tk 200
  • B. Tk 200
  • C. Tk 200
  • D. Tk 200

Answer: Option C

Explanation:

C = P ( 1 + r/t) nt

= 10000 ( 1 + 0.08/4) 1/2 ×4

= 10404

Interest = C - P = 10404 - 10000 = 404 Tk


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