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Railways PYQCBT 2 2017

RRB NTPC · Question 92

Mr. Arun borrowed Rs. 6500 at 4% per annum compound interest. The compound interest compounded annually for 2 years is:

  1. Rs. 530.4

  2. Rs. 7300.4

  3. Rs. 503.4

  4. Rs. 7030.4

Show answer & explanation

Answer: (A) Rs. 530.4

Explanation

CI = 6500 × (1.04² − 1) = 6500 × 0.0816 = Rs 530.40.