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Find the compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.
Question 1:
Find the compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.
A.
Rs. 610
B.
Rs. 612
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Amount=[7500×(1+4/100)2]=(7500×26/25×26/25)=8112
C.
Rs. 614
D.
Rs. 616
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