Find compound interest

Question

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

Options:

A . 600

B . 602

C . 612

D . 622

Answer: Option C

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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