RRB Group D Model Paper 8 with solutions

Question : 78 of 100

Marks: +1, -0

In what time will ₹ 64000 amount to ₹ 68921 at 5% per annum, if the interest is compounded half-yearly?

Solution:

(1) Let the time be t years. Now,
68921 = 64000

(1+5/200)^t

⇒

68921/64000

(1+5/200)^t

⇒

(41/40)^3

(41/40)^t

Therefore, t = 3 years.

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