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Railways PYQCBT 2 2017

RRB NTPC · Question 107

After how many years, will Rs. 1,728 become Rs. 2,197 at \(8 \dfrac{1}{3}\%\) p.a. compound interest?

  1. 2 yeas

  2. \(1 \dfrac{1}{2}\) years

  3. 3 years

  4. \(2 \dfrac{1}{2}\)

Show answer & explanation

Answer: (C) 3 years

Explanation

8⅓% = 1/12, so each year multiplies by 13/12. 2197/1728 = 13³/12³, so the time is 3 years.