Correct Answer - Option 4 : ₹ 8112
Given:
Principal (P) = Rs. 7500
Rate % (R)= 4% per annum
Time Period (T) = 2 years
Formula Used:
\({\rm{Amount}} = {\rm{P}}{\left[ {1 + \;\frac{R}{{100}}} \right]^T}\;\)
Calculation:
\({\rm{Amount}} = 7500{\left[ {1 + \;\frac{4}{{100}}} \right]^2}\;\)
⇒ Amount = 7500 × [104/100]2
⇒ (7500 × 26 × 26)/(25 × 25)
⇒ 12 × 676 = Rs. 8112
∴ The Amount After 2 years will be Rs. 8112