This discussion on Find compound interest on Rs 7500 at 4% per annum for 2 years, compounded annually.a)Rs 512b)Rs 552c)Rs 612d)Rs 622Correct answer is option 'C'. Can you explain this answer? is done on EduRev Study Group by Class 7 Students. The Questions and Answers of Find compound interest on Rs 7500 at 4% per annum for 2 years, compounded annually.a)Rs 512b)Rs 552c)Rs 612d)Rs 622Correct answer is option 'C'. Can you explain this answer? are solved by group of students and teacher of Class 7, which is also the largest student community of Class 7. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for Class 7 on EduRev and even discuss your questions like Find compound interest on Rs 7500 at 4% per annum for 2 years, compounded annually.a)Rs 512b)Rs 552c)Rs 612d)Rs 622Correct answer is option 'C'. Can you explain this answer? over here on EduRev! Apart from being the largest Class 7 community, EduRev has the largest solved Question bank for Class 7. Show
Free Important Civilization in Rajasthan 15 Questions 15 Marks 10 Mins Given: Principal (P) = Rs. 7500 Rate % (R)= 4% per annum Time Period (T) = 2 years Formula Used: \({\rm{Amount}} = {\rm{P}}{\left[ {1 + \;\frac{R}{{100}}} \right]^T}\;\) Calculation: \({\rm{Amount}} = 7500{\left[ {1 + \;\frac{4}{{100}}} \right]^2}\;\) ⇒ Amount = 7500 × [104/100]2 ⇒ (7500 × 26 × 26)/(25 × 25) ⇒ 12 × 676 = Rs. 8112 ∴ The Amount After 2 years will be Rs. 8112 Latest RSMSSB Forest Guard Updates Last updated on Oct 20, 2022 The RSMSSB Forest Guard & Forester Admit Card release date is out. For Forester post, admit cards can be downloaded from 28th October 2022 and for Forest Guard, admit cards will be available from 4th November 2022. The exam for Forester will be conducted on 6th November 2022 and the exam for Forest Guard will be conducted on 12th & 13th November 2022. The selection process consists of 5 stages i.e. Written Test, Physical Standard & Efficiency Test (PST & PET), Interview, Medical Examination, and finally Document & Character Verification. The candidates must also go through the RSMSSB Forest Guard Previous Years’ Paper. Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Compound Interest. The compound interest on a sum of ₹ 7500 at 4 % per annum for a period of 2 years, compounded annually will be equal to No worries! We‘ve got your back. Try BYJU‘S free classes today! Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses No worries! We‘ve got your back. Try BYJU‘S free classes today! No worries! We‘ve got your back. Try BYJU‘S free classes today! Solution The correct option is CRs.612Using the formula A = P(1+r100)n and substituting P = ₹ 7500 , t = 2 years , r = 4 p.a , we haveA = ₹7500× (1+ 4100)2 =₹7500× 2625× 2625= ₹8112.C.I = A - P ∴ C.I.= ₹8112−7500 =₹612.What will be the compound interest on Rs 7500 at 4% per annum for 2 years compounded annually a RS 612 B RS 712 C RS 812 D RS 912?Compound Interest = Rs. (8112−7500)= Rs. 612.
What is the formula of compound interest for 2 years?For 2 years, T = 24. If interest is compounded half yearly, rate of interest = R / 2 and A = P [ 1 + ( {R / 2} / 100 ) ]T, where 'T' is the time period. For example, if we have to calculate the interest for 1 year, then T = 2.
What is the compound interest on 3000 at 6% for 2 years?Detailed Solution
∴ The compound interest for 2 years is Rs. 1320.
How do you calculate compound interest compounded annually?Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one. The total initial amount of the loan is then subtracted from the resulting value. Katie Kerpel {Copyright} Investopedia, 2019.
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What is the compound interest on 7500 at 4% per annum for 2 years compounded annually?
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