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Sneha keeps ₹17500 in a fixed deposit at 6% per annum, compounded annually. How much compound interest (in rupees) does she earn in 2 years?

Competition practiceSimple & Compound Interest
  • A2163
  • B2100
  • C2226
  • D1050

Step-by-Step Solution

Amount = = ₹19663, so CI = ₹2163. (₹2100 is the simple interest.)
Answer: A) 2163

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