If Rs. 7500 are borrowed at C. I at the rate of 4 % per annum then after 2 years, the amount to be paid is_______?
Correct answer: D. Rs. 8112
- A. Rs. 8082
- B. Rs. 7800
- C. Rs. 8100
- D. Rs. 8112
Explanation
The amount after 2 years is Rs.7,500 x (1.04)^2 = Rs.7,500 x 1.0816 = Rs.8,112. This includes interest compounded on the first year's interest. Students may choose Rs.8,100 by using simple interest, Rs.7,500 x (1 + 2 x 0.04), instead of compound interest.
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Percentages express a quantity as parts per hundred and support calculations involving increases, decreases, discounts, commissions, taxes, and successive changes. Questions require distinguishing percentage change from percentage points and identifying the original value when a final value and its percentage change are given.
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