Compound interest on a sum of money for 2 years at 4 percent per annum – McqOptions

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1.	Compound interest on a sum of money for 2 years at 4 percent per annum is 2, 448. Simple interest of the same sum of money at the same rate of interest for 2 years will be
A.	2,500
B.	2,400
C.	2,360
D.	2,250
Answer» C. 2,360

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