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Q: There is a 60% increase in an amount in 5 years at simple interest. What will be the compound interest on `6250 for two years at the same rate of interest, when the interest is compounded yearly?
  • A. `1480
  • B. `1560
  • C. `1500
  • D. `1590
Correct Answer: Option D -
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Explanations:

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