A loan of Rs. 24,000 is repayable in 2 years at 5% compound interest. Find the amount of interest payable on maturity.

A loan of Rs. 24,000 is repayable in 2 years at 5% compound interest.

1.	A loan of Rs. 24,000 is repayable in 2 years at 5% compound interest. Find the amount of interest payable on maturity.
A.	Rs. 2,064
B.	Rs. 2,460
C.	Rs. 2,406
D.	Rs. 2,640
Answer» C. Rs. 2,406

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A loan of Rs. 24,000 is repayable in 2 years at 5% compound interest. Find the amount of interest payable on maturity.

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