Find the compound interest on ₹12,000 at 8% per annum for 2 years 9 months, interest compounded annually.

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Accepted Answer

1. Compound for 2 years: $A_2=12000(1.08)^2=12000	imes1.1664=13996.8$.  
2. For the extra 9 months use simple interest on $A_2$: $I=13996.8	imes0.08	imes\frac{9}{12}=13996.8	imes0.06=839.808$.  
3. Final amount $=13996.8+839.808=14836.608$. Compound interest $=14836.608-12000=2836.608\approx₹2,837$.  
FINAL_ANSWER: d

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