NextMockSearch exams, e.g. SSC CGL, UPPSC, Lekhpal
Railways PYQCBT 1 2020

RRB NTPC · Question 82

A sum of money is invested for 2 years at 10% compound interest p.a. It would fetch Rs. 1,762 more if interest is calculated half yearly. Find the sum invested.

  1. Rs. 2,30,000

  2. Rs. 3,40,000

  3. Rs. 3,30,000

  4. Rs. 3, 20,000

Show answer & explanation

Answer: (D) Rs. 3, 20,000

Explanation

Annual compounding: P × 1.21. Half-yearly: P × 1.05⁴ = P × 1.21550625. The difference 0.00550625P = 1762, so P = Rs 3,20,000.