FOUNDATION EXAMINATION: SEPTEMBER 2025Foundation
If Mr. XYZ is investing ₹ 86,000 in a bank fixed deposit scheme where interest will be payable at 12% per annum, compounded half-yearly, what will be the effective rate of interest in a year?
A
(A) 12.36%
B
(B) 12.24%
C
(C) 12.12%
D
(D) 12.48%