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Q: Simple interest on a certain sum at 7% per annum for 4 years is Rs. 2415. What will be the compound interest on the same principal at 4% per annum in two years?

  • 1
    Rs. 704
  • 2
    Rs. 854
  • 3
    Rs. 893
  • 4
    Rs. 914
  • Show Answer
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Answer : 1. "Rs. 704"
Explanation :

Answer: A) Rs. 704 Explanation: We know that, S.I. = PTR100⇒ P = S.I x 100T x RAnd also,C.I = P1 + R100n- 1 From given data, P = Rs. 8625 Now, C.I  = 86251+41002-1= 862526252-1= 8625676625-1= 8625 x 51625C.I = Rs. 703.80

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