Question

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

A) Rs.512 B) Rs.515 C) Rs.612 D) Rs.522

Answer 1

Answer:

612 is the correct answer

Answer 2

Answer:

given: P = Rs 7500, r = 4%, n = 2

to find C.I.

C.I. = P { (1+r/100)ⁿ - 1 }

=> 7500 { (1 + 4/100)² - 1 }

=> 7500 { 1 + 1/25)² - 1 }

=> 7500 { (26/25)² - 1 }

=> 7500 { 1.086 - 1 }

=> 7500 { 0.086 }

=> Rs 612 Answer