RRB NTPC Mains or Stage 2 Model Paper 2 with solutions

Question : 101 of 120

Marks: +1, -0

Mr. Arun borrowed ₹ 6500 at 4% per annum compound interest. The compound interest compounded annually for 2 years is:

Solution:

(a) P = ₹6500
r = 4%
T = 2 years
C.I. = ?

∴C.I.=[p[ 1 +r/100]^t-1

⇒[6500[1+4/100]^ 2 -1]

⇒[6500 ×26/25× 26/25]- 1]

= (7030.4 – 6500) = 530.4.

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