Quantitative Aptitude Interest Compound Interest

A bank provides a loan of ₹55,000 to a shopkeeper at a 5% compound rate of interest (Compounded annually). After 2 years the amount to be deposited by the shopkeeper is:

1
₹60,637.50
2
₹55,825.75
3
₹65,259.75
4
₹62,526.50

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