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

641

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612

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650

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720

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Solution

The correct option is B
612

$A m o u n t$ = $R s . [7500 \times (1 + \frac{4}{100})^{2}] = R s . (7500 \times \frac{26}{25} \times \frac{26}{25}) = R s . 8112$ .

$∴ C . I . = R s . (8112 - 7500) = R s . 612$ .

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