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Compound interest is worked out on a sum compounded:
AOnly daily
BOnly once
CAnnually
DNever ever
Answer & Solution
Correct answer: C. Annually
1. The formula assumes interest is added at fixed intervals.
2. In the basic case that interval is one year.
3. The sum is compounded annually at a rate of R per cent.
4. So the answer is annually.
_Source: NCERT Class 8 Mathematics, Ch 7 'Comparing Quantities'_
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