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What will be the compound interest on a ...

What will be the compound interest on a sum of ₹7500/- at 4 p.c.pa in 2 years ?

A

₹618/-

B

₹612/-

C

₹624/-

D

₹606/-

Text Solution

Verified by Experts

The correct Answer is:
C

Total amount = `7500(1+4/100)^2`
` = 7500(26/25)^2 = 8112₹ `
C.I. = Total amount - sum
` = 8112-7500 = ₹ 612`
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