Railways Sample Paper RRB (Assistant Loco Pilot & Technician) Sample Test Paper-6

  • question_answer
    What will be the compound interest obtained on a principal amount of Rs. 5500 at the rate of 3 p.c.p.a. after 2 years?

    A)  Rs.  343.95                  

    B)  Rs.  324.95

    C)  Rs.  354.95         

    D)    None of these

    Correct Answer: D

    Solution :

     \[CI=P\left[ {{\left( 1+\frac{R}{100} \right)}^{T}}1 \right]\] \[=5500\left[ {{\left( 1+\frac{3}{100} \right)}^{2}}1 \right]\] \[=5500\left[ {{(1.03)}^{2}}\,\,1 \right]\] \[=5500\left[ 1.0609\,\,\,\,\,1 \right]\] \[=5500\,\,\,\,0.0609\,\,=Rs.\,\,334.95\]

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