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If Rs. 7500 are borrowed at compound interest at the rate of 4% per annum, then after 2 years the amount to be paid is?

Rs. 8082
Rs. 7800
Rs. 8100
Rs. 8112

Correct Answer: Rs. 8112

Explanation:

Amount = Rs. 7500(1 + 4/100)²
= Rs. 7500 x 26/25 x 26/25
= Rs .8112

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