Find compound interest on Rs. 7500 at 4% per annum for 2 years. compounded annually . Options: A . &nbspRs. 600 B . &nbspRs. 612 C . &nbspRS. 625 D . &nbspRs. 650

Find compound interest

Question

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

Options:

A . Rs. 600

B . Rs. 612

C . RS. 625

D . Rs. 650

Answer: Option B

Amount = Rs.` [7500 xx(1 + 4/100)^2]`

= Rs. `(7500 xx 26/25 xx 26/25)` = Rs. 8112.

`:.` C.I. = Rs. (8112 - 7500) = Rs. 612.

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