Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.

612
712
812
912

Correct Answer: 612

Explanation:

Amount = Rs [7500*(1+(4/100)2] = Rs (7500 * (26/25) * (26/25) ) = Rs. 8112.
therefore, C.I. = Rs. (8112 - 7500) = Rs. 612.

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