RRB NTPC Mains or Stage 2 Model Paper 4 with solutions

Question : 4 of 120

Marks: +1, -0

What approximate compound interest can be obtained on an amount of ₹3,980 after 2 years at 8 p.c.p.a. ?

Solution:

(d) Equivalent % interest for compound rate ofinterest of 8% for 2 years

=8+ 8 +{8 ×8}= 16.64%

So, interest = 16.64% of 3980 ≈ 662

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