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Railways PYQCBT 2 2017

RRB NTPC · Question 117

Mr. Ayush borrowed Rs. 3000 at 5% per annum compound interest. The compound interest compounded annually for 2 years is:

  1. Rs. 370.5

  2. Rs. 307.5

  3. Rs. 3307.5

  4. Rs. 3370.5

Show answer & explanation

Answer: (B) Rs. 307.5

Explanation

CI = 3000 × (1.05² − 1) = 3000 × 0.1025 = Rs 307.50.