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Rohan deposits ₹15000 at 8% per annum, compounded annually. How much interest does he earn in 2 years? (answer in ₹)

Competition practiceSimple & Compound Interest
  • A2496
  • B2400
  • C2592
  • D2448

Step-by-Step Solution

Amount = = ₹17496. Compound interest = 17496 − 15000 = ₹2496.
Answer: A) 2496

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