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The simple interest on a sum of money at 10% per annum for 2 years is Rs. 8,100. Compounded annually, what would be the compound interest (in Rs.) on the same sum for the same period at the same rate of interest?

A8,100

B8,505

C8,715

D9,000

Answer:

B. 8,505

Read Explanation:

S.I for 2 years = 10% + 10% = 20%. C.I for 2 years = 10% + 10% + 1% = 21% 20% = 8100 21% = 8100 × (21/20) 21% = 8505


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