NextMockSearch exams, e.g. SSC CGL, UPPSC, Lekhpal
Railways PYQCBT 2 2017

RRB NTPC · Question 49

Mr. Vinod borrowed Rs. 9000 at 5% per annum compound interest. The compound interest compounded annually for 2 years is:

  1. Rs. 922.5

  2. Rs. 9921.5

  3. Rs. 921.5

  4. Rs. 9922.5

Show answer & explanation

Answer: (A) Rs. 922.5

Explanation

CI = 9000 × (1.05² − 1) = 9000 × 0.1025 = Rs 922.50. (Rs 9922.50 is the amount, not the interest.)