RRB Group D Model Paper 1 with solutions

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Question : 62 of 100

Marks: +1, -0

On what sum of money will compound interest for 2 years at 10% p.a. amount to ₹ 126?

₹ 500
₹ 600
₹ 550
₹ 640

Solution:

(2) Let the principal be ₹ P.
C I = P

[(1+r/100)^n-1]

⇒ 126 = P

[(1+10/100)^2-1]

⇒ 126 = P

[121/100-1]

⇒ 126 = P

[{ 121-100}/100 ]

⇒ 126 = P ×

21/100

⇒ P = ₹

{126×100}/21

⇒ P = ₹ 600

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