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Railways PYQCBT 1 2016

RRB NTPC · Question 6

Find the compound interest for 3 years at 10% annual interest rate of Rs. 10,000. A. Rs. 2,100 B. Rs. 3,310 C. Rs. 4,741 D. Rs. 1,100

  1. D

  2. B

  3. C

  4. A

Show answer & explanation

Answer: (B) B

Explanation

Amount = 10,000 × (1.1)³ = 10,000 × 1.331 = Rs 13,310. Compound interest = 13,310 − 10,000 = Rs 3,310.