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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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