RRB NTPC Mains or Stage 2 Model Paper 1 with solutions

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Question : 49 of 120

Marks: +1, -0

Mr. Vinod borrowed Rs. 9000 at 5% per annum compound interest. The compound interest compounded annually for 2 years is :

Rs. 922.5
Rs. 9921.5
Rs. 921.5
Rs. 9922.5

Solution:

(1) C.I.

= P [[1+R/100]^T–1]

= 9000 [[1+5/100]^2–1]

= 9000[[21/20]^2–1]

= 9000[441/400–1]

= Rs.[{9000× 41}/400]

= Rs. 922.5

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