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Railways PYQCBT 2 2017

RRB NTPC · Question 119

Mr. Akhil invested Rs. 13,500 in FD. How much will he get on maturity, if he invested it at 20% per annum compound interest for 6 months, compounded quarterly?

  1. Rs. 14,883.35

  2. Rs. 14,883.75

  3. Rs. 14,883.5

  4. Rs. 14,883

Show answer & explanation

Answer: (B) Rs. 14,883.75

Explanation

Quarterly compounding at 20% a year means 5% per quarter, and 6 months = 2 quarters. Amount = 13500 × 1.05² = 13500 × 1.1025 = Rs 14,883.75.