Postal or Sorting Assistants Model Paper 8 With Solutions

Question : 12 of 100

Marks: +1, -0

What is compound interest accrued on an amount of ^ 62,000 in two years at the rate of 9 p.c.p.a?

Solution:

[[1+\text"Rate"/100]^\text"Time"-1]

= 45000[[1+9/100]^2-1]

= 45000 × [(1.09)^2-1]

62000 × 0.1881 =₹11662.2

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