1 .	What approximate compound interest can be obtained on an amount of ` 3,980 after 2 years at 8 p.c.p.a. ?
[ A ]    650 [ B ]    680 [ C ]    600 [ D ]    662
Answer : Option D Explanation : Equivalent % interest for compound rate of interest of 8% for 2 years = 8+8+ $8X8\over100$ = 16.64% So, interest = 16.64% of 3980 » 662
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