An amount was lent for two years at the rate of 20% per annum compounding annually. Had the compounding been done half yearly, the interest would have increased by 241. What was the amount (in Rs) lent?

An amount was lent for two years at the rate of 20% per annum compound

1.	An amount was lent for two years at the rate of 20% per annum compounding annually. Had the compounding been done half yearly, the interest would have increased by 241. What was the amount (in Rs) lent?
A.	10,000
B.	12,000
C.	20,000
D.	24,000
Answer» B. 12,000

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An amount was lent for two years at the rate of 20% per annum compounding annually. Had the compounding been done half yearly, the interest would have increased by 241. What was the amount (in Rs) lent?

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