RRB NTPC Mains or Stage 2 Model Paper 1 with solutions

Question : 23 of 120

Marks: +1, -0

A woman invests Rs. 200 at the start of each year at 5% compound interest per annum. How much will her investment be at the end of the 2nd year?

Solution:

(2) Required amount

=P[1+R/100]^2+P[1+R/100]

=200[(1+5/100)^2+(1+5/100)]

=200[(1+1/20]^2+(1+1/20)]

=200[(21/20)^2+21/20]

=200(441/400+21/20)

=200({441+420}/400)

={200×861}/400

=Rs.430.5

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