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Railways RRB (Assistant Loco Pilot & Technician) Solved Paper-2 (2014)

  • question_answer
    The compound interest on Rs. 2000 for 1 year 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)  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 \[Cl=2000{{\left( 1+\frac{4}{100} \right)}^{2}}-2000\] \[=216320-2000=Rs.163.20\]


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