Multiple Choice Questions on Mr Sinha invested money in FD How much will he get on maturity If Rs 15500 is invested at 20 per ann........... for RRB(NTPC) Exam Preparation

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Multiple Choice Questions

Mr Sinha invested money in FD How much will he get on maturity If Rs 15500 is invested at 20 per ann...........

Quantitative Aptitude (RRB NTPC) Compound Interest
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    Mr. Sinha invested money in FD. How much will he get on maturity. If Rs. 15500 is invested at 20% per annum compound interest for 6 months, compounded quarterly?

    Rs. 17088.5

    Incorrect Answer

    Rs. 17088.75

    Correct Answer

    Rs. 17088.35 

    Incorrect Answer

    Rs. 17088

    Incorrect Answer
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    Explanation:
    Interest is compounded quarterly.
    So, rate = 20/4 = 5%
    Time period = 6 month = 2 quarter
    Principal (P) = 15500 Rs.
    A = P(1+r/100)n = 15500( 1+5/100)2 = 15500 x( 21/20)2 = 17088.75 Rs.

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