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Railways Sample Paper RRBs Assistant Loco Pilot and Technician CBT STAGE-I Sample Paper-5

  • question_answer
    The compound interest on Rs. 2000 for 1 yr at the rate of 8% per annum, when the interest is compounded 'semiannually, is

    A)  Rs. 163.20       

    B)  Rs. 2163.20

    C)  Rs. 2000          

    D)  Rs. None of these

    Correct Answer: A

    Solution :

    Principal = Rs. 2000 Time = 1 yr = 2 half years \[\therefore \]      \[\,n=2\] Rate = 8% per annum = 4% half- yearly \[CI=2000{{\left( 1+\frac{4}{100} \right)}^{2}}-2000\] \[=216320-2000=Rs.\text{ }163.20\]


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