Multiple Choice Questions on A man deposits Rs 500 at the beginning of each year for 2 years at 10 per annum compound annually Fi........... for RRB(NTPC) Exam Preparation

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Multiple Choice Questions

A man deposits Rs 500 at the beginning of each year for 2 years at 10 per annum compound annually Fi...........

Quantitative Aptitude (RRB NTPC) Compound Interest
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    A man deposits Rs. 500 at the beginning of each year for 2 years at 10% per annum compound annually. Find the maturity value at the end of the 2nd year

    1,050

    Incorrect Answer

    1,150

    Incorrect Answer

    1,155

    Correct Answer

    1,200

    Incorrect Answer
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    Explanation:
    Amount after 1 year = 500 x 11/10 = 550
    Amount after 2 years = (550 + 500) x 11/10 = 1155

    By: Barka Mirza
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