How to solve Iift 2021 - 23rd Dec Question 11?

This question can be solved by applying the core concept explained in the solution above, followed by step-by-step calculation and elimination of options.

Which concept is tested in this question?

This question tests fundamental concepts commonly asked in IIFT exams.

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Iift 2021 - 23rd Dec Question 11

This is a detailed step-by-step solution for Iift 2021 - 23rd Dec Question 11. Understand the concept, common mistakes, and expert tips to solve similar questions in IIFT exam.

IIFT 2021 (23rd Dec)

Explanation:
Since in first case we are compounding half-yearly and in second case we are compounding yearly and the amount received and the principal invested in both the cases is same so interest rate in the first case is lower than the interest rate in the second case.

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