Multiple choice

A person borrowed Rs. 7500 at 16% compound interest. How much does he have to pay at the end of 2 years to clear the loan?

  1. Rs. 9900

  2. Rs. 10092

  3. Rs. 11000

  4. Rs. 11052
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Use compound interest formula A = P(1 + r/100)^n. For P=7500, r=16%, n=2: A = 7500 × 1.16² = 7500 × 1.3456 = 10092. The answer matches option B.

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