RRB NTPC 17 January 2017 Paper

Question : 99 of 120

Marks: +1, -0

Mr. Mike borrowed ₹ 8500 at 4% per annum compound interest. The compound interest compounded annually for 2 years is:

Solution:

(4) P = 8500 ; R = 4% p/a
T = 2 years
Calculating the amount A

A=P(1+{R}/{100)^{T}

=8500(1+{4}/{100})^{2}=9193.6

C_{1}=A-P

=9193.6-8500

=693.6

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