(b) ₹ 510
Explanation:
Present value= ₹ 6250
Interest rate= 8% per annum
Time=1 year
To find the amount we have the formula,
Amount (A) = P (1+(R/100))2n
Where P is present value, r is rate of interest, n is time in years.
Now substituting the values in above formula we get,
∴ A = 6250 (1 + (8/2)/100)2
⇒ A = 6250 (1+4/100)2
⇒ A = 6250 (1+1/25)2
⇒ A = 6250 (26/25)2
⇒ A = 10 × 26 × 26
⇒ A = ₹ 6760
∴ Compound interest = A – P
= 6760 – 6250 = ₹ 510