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    Question

    A sum of money amounts to ₹8700 in 2 years at a simple

    interest rate of 8% per annum. If the same sum is invested at compound interest with the same rate and for the same time period, what will be the total amount after 2 years?
    A 8708 Correct Answer Incorrect Answer
    B 8748 Correct Answer Incorrect Answer
    C 8758 Correct Answer Incorrect Answer
    D 8796 Correct Answer Incorrect Answer

    Solution

    Let the principal be P. A = P + {P × R × 2}/ {100} = 8700

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