Postal or Sorting Assistants Model Paper 5 With Solutions

Question : 14 of 100

Marks: +1, -0

What would be the compound interest accrued on an amount of ₹ 7400 @ 13.5 p.c.p.a. at the end of two years ? (Rounded off to two digits after decimal)

₹ 2136.87
₹ 2306.81
₹ 2032.18
₹2132.87

Validate

Solution:

(d) Compound interest

= 7400 [[1+27/200]^2-1]

=7400[[227/200]^2-1]=7400[{227×227-200×200}/{200×200}]

=7400[{51529-40000}/40000]=7400×11529/40000

2132.865=₹ 2132.87

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