RRB Assistant Loco Pilot and Technician Model Paper 7 with solutions

Question : 16 of 100

Marks: +1, -0

In how many years will a sum of ₹ 800 at 10% per annum compound interest, compounded semiannually becomes ₹ 926.10 ?

Solution:

(a) Rate = 10% per annum = 5% half yearly
A = P

( 1 + { R }/ { 100 } ) ^ { {\T } }

⇒ 926.10 = 800

( 1 + { 5 }/ { 100 } ) ^ { {\T } }

⇒

{ 9261 }/ { 8000 } = ( { 21 }/ { 20 } ) ^ { { \T } }

⇒

( { 21 }/ { 20 } ) ^ { 3 } = ( { 21 } /{ 20 } ) ^ { { \T } }

∴ Time = 3 half years = 1

1/2

years

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