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The compound interest on Rs. 20480 at 25/4% p.a. for 2 years 73 days is:
- ARs. 3000
- BRs. 3131
- CRs. 2929
- DRs. 3636
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CCommunity
Amount after t years, when interest is compounded annually = $({\rm{P}}{\left( {1 + {\rm{R}}/100} \right)^{\rm{t}}})$
Amount $(= 20480{\left( {1 + \frac{{25}}{{4{\rm{\;}} \times 100}}} \right)^2}{\rm{\;}}\left( {1 + \frac{{73}}{{365}} \times \frac{{25}}{{4{\rm{\;}} \times 100}}} \right) = {\rm{Rs}}.{\rm{\;}}23409)$
C.I. = Rs. (23409 - 20480) = Rs. 2929
Amount $(= 20480{\left( {1 + \frac{{25}}{{4{\rm{\;}} \times 100}}} \right)^2}{\rm{\;}}\left( {1 + \frac{{73}}{{365}} \times \frac{{25}}{{4{\rm{\;}} \times 100}}} \right) = {\rm{Rs}}.{\rm{\;}}23409)$
C.I. = Rs. (23409 - 20480) = Rs. 2929