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The amounts of ₹ 7500 at compound interest at 4% per annum for 2 years,is:
1. ₹ 8100
2. ₹ 8082
3. ₹ 7800
4. ₹ 8112

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Best answer
Correct Answer - Option 4 : ₹ 8112

Given:

P = 7500

R = 4%

T = 2 years

At compound interest

Formula:

A = \(P\left( {1 + \frac{r}{{100}}} \right)\)t

where,

A = Amount

P = Principle 

r =  Rate

T = Number of years

Calculation:

A = \(P\left( {1 + \frac{r}{{100}}} \right)\)t

⇒ A = 7500(1 + 4/100)2 

⇒ A = 7500 (26/25)2

⇒ A = 7500 × 26/25 × 26/25

⇒ A = 12 × 26 × 26

⇒ A = 8112

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