A) Rs 964000
B) Rs 128000
C) Rs 78000
D) None of these
Correct Answer: B
Solution :
According to the question, \[16000=8000{{\left( 1+\frac{r}{100} \right)}^{5}}\] \[\Rightarrow \,\,\,\,\,2={{\left( 1+\frac{r}{100} \right)}^{5}}\] After 2 yr, \[A=8000{{\left( 1+\frac{r}{100} \right)}^{20}}\] \[=8000{{\left[ {{\left( 1+\frac{r}{100} \right)}^{5}} \right]}^{4}}\] \[=8000\times {{2}^{4}}\] [from Eq. (i)] = Rs 128000
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