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Meenal keeps ₹25,000 in a fixed deposit at 6% per annum, compounded annually. What interest (in ₹) does it earn in 2 years?

Competition practiceSimple & Compound Interest
  • A3090
  • B3000
  • C3180
  • D3045

Step-by-Step Solution

Amount = = ₹28,090. Interest = 28090 − 25000 = ₹3,090.
Answer: A) 3090

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