RRB NTPC Mains or Stage 2 Model Paper 5 with solutions

Question : 9 of 120

Marks: +1, -0

Mr Duggal invested ₹20,000 with rate of interest @ 20 pcpa. The interest was compounded half yearly for the first one year and in the next year it was compounded yearly. What will be the total interest earned at the end of two years?

₹ 8,800
₹ 9,040
₹ 8,040
₹ 9,800

Validate

Solution:

(b) Interest earned in 1st half of a year

=20,000 ×1 /2×20 /100=2000

Similarly, During second half, interest earned= 2200
During second year, interest earned= 4840 (Note : Interest is calculated as compound)
Total interest earned at the end of two years= 2000 + 220 + 4840 = ₹9040.

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