RRB RPF RPSF SI and CONS Model Papers 1 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 of interest of 8% for 2 years

= 8 + 8 + { 8 ×8 }/ { 100 } = 16.64 \%

So, interest

= 16.64 \%

of 3980

≈ 662

Go to Question:

Prev Question

Next Question