Mathematics · Compound Interest
An individual deposits ₹7,500 in a savings scheme that provides a 12% annual interest rate, with the interest being compounded every year. What total sum will the individual receive after a period of 2 years?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹9,540
- 2₹9,216
- 3₹9,300
- 4₹9,408✓
Correct answer
₹9,408
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