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In what time will Rs. 3300 becomes Rs. 3399 at 6% per annum interest compounded half-yearly ?

Quarter months
Half year
2 years
1 year

Correct Answer: Half year

Explanation:

3300 ----- 3% ↑ (1st time interval, 99) → 3399.

Here, time interval is given as half-yearly i.e. 6 months.

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