RRB Non Technical Model Papers 8 with solutions

Question : 43 of 100

Marks: +1, -0

At what rate will a sum of ₹ 1,000 amount to ₹ 1,102.50 in 2 years at compound interest?

Solution:

(2)

1102.5 =1000 [1+ r/100]^2

⇒ 11025/10000 = 1 + r/100

⇒ r /100= 105 /100-1= 5/100 ⇒ r = 5%

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