What would be the compound interest on Rs.7700/- at 15 ¼% per annum for 2 years compounded annually Choose the correct option:
A) 2520.57/- B) 2522.50/- C) 2527.57/- D) 2532.57/- E) 2533.45/-
Principal = Rs. 7700/-   time = 2 years   rate = 15 ¼%   Amount = P(1+R/100)n   = 7700 × (1 + 61/(4 × 100)2)   = 7700 × [(1 + 61/400)2]   = 7700 × [(461/400)2)]   = 7700 × 461/400 × 461/400   = 7700 × 1.1525 × 1.1525   = 7700 × 1.32825625   = 10227.573125   2527.57/-.I = 10227.573125 - 7700 = 2527.57/-   2527.57/-
<result>C</result>
What would be the compound interest on Rs.7700/- at 15 ¼% per annum for 2 years compounded annually