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Compound Interest

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  1. 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 ?
    1. Rs. 8082
    2. Rs. 7800
    3. Rs. 8100
    4. Rs. 8112
Correct Option: D

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


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