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Rekha deposits ₹15,000 in a bank paying 8% per annum, compounded annually. How much interest does she earn in 2 years? (answer in ₹)

Competition practiceSimple & Compound Interest
  • A2400
  • B2496
  • C2448
  • D2592

Step-by-Step Solution

Amount = . Interest = 17,496 − 15,000 = ₹2,496.
Answer: B) 2496

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