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Railways PYQCBT 1 2020

RRB NTPC · Question 58

The simple interest on a sum of amount for 2 years at 10% per annum is Rs. 500. The compound interest on the same sum at the same rate for the same time is:

  1. Rs. 525

  2. Rs. 510

  3. Rs. 515

  4. Rs. 520

Show answer & explanation

Answer: (A) Rs. 525

Explanation

SI for 2 years at 10% is 500, so P = Rs 2500. CI = 2500 × (1.1² − 1) = 2500 × 0.21 = Rs 525.