Discussion
If Rs.7500 are borrowed at C.I at the rate of 4% per annum, then after 2 years the amount to be paid is?
Answer: D
\[ A = P\left(1 + \frac{R}{100}\right)^{n}, \qquad \text{CI} = A - P, \qquad \text{SI} = \frac{PRn}{100} \]
\[ A = 7500 \times (1.04)^{2} = 7500 \times 1.0816 = \text{Rs. } 8112 \]
The interest is Rs. 612, of which Rs. 600 is simple interest and Rs. 12 is the second year's 4% on the first year's Rs. 300 - which is why Rs. 8100 is offered as a near miss.
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