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Railways PYQCBT 1 2016

RRB NTPC · Question 64

Find the compound interest of Rs 30,000 for 2 years 73 days at the rate of 35/4% per annum. A. Rs. 2929 B. Rs. 3000 C. Rs. 6101 D. Rs. 3635

  1. C

  2. A

  3. D

  4. B

Show answer & explanation

Answer: (A) C

Explanation

73 days = 1/5 year. Amount = 30000 × (1.0875)² × (1 + 0.0875 × 1/5) = 30000 × 1.18266 × 1.0175 ≈ Rs 36,101. Compound interest ≈ Rs 6,101.