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Railways PYQCBT 1 2016

RRB NTPC · Question 59

Mr. Yashwanth invested money in FD. How much will he get on maturity, if Rs. 10000 in invested at 20% per annum compound interest for 6 months, compounded quarterly? A. 11025.25 B. 11025 C. 11025.75 D. 11025.5

  1. D

  2. B

  3. A

  4. C

Show answer & explanation

Answer: (B) B

Explanation

Compounded quarterly at 20% p.a., the rate is 5% per quarter, and 6 months is 2 quarters. Amount = 10000 × (1.05)² = 10000 × 1.1025 = Rs 11,025.