Akshat invested ₹90,625 at 8% p.a. for 1 year at compound interest, compounded half yearly. The amount received by him is:

This question was previously asked in
RRB NTPC Graduate Level CBT-I Official Paper (Held On: 05 Jun, 2025 Shift 3)
View all RRB NTPC Papers >
  1. ₹98,837
  2. ₹98,984
  3. ₹98,020
  4. ₹98,802

Answer (Detailed Solution Below)

Option 3 : ₹98,020
Free
RRB NTPC Graduate Level Full Test - 01
2.4 Lakh Users
100 Questions 100 Marks 90 Mins

Detailed Solution

Download Solution PDF

Given:

Principal (P) = ₹90,625

Rate of interest (R) = 8% p.a.

Time (T) = 1 year

Compound Interest is compounded half-yearly.

Formula Used:

Amount (A) = P × (1 + R / (2 × 100))2 × T

Calculation:

Here, R is divided by 2 because interest is compounded half-yearly, and the number of times interest is compounded in a year (n) is 2.

Amount (A) = 90,625 × (1 + 8 / (2 × 100))2 × 1

⇒ Amount (A) = 90,625 × (1 + 8 / 200)2

⇒ Amount (A) = 90,625 × (1 + 0.04)2

⇒ Amount (A) = 90,625 × (1.04)2

⇒ Amount (A) = 90,625 × 1.0816

⇒ Amount (A) = ₹98,020

The amount received by Akshat is ₹98,020.

Latest RRB NTPC Updates

Last updated on Jul 17, 2025

-> RRB NTPC Under Graduate Exam Date 2025 has been released on the official website of the Railway Recruitment Board.

-> The RRB NTPC Admit Card will be released on its official website for RRB NTPC Under Graduate Exam 2025.

-> UGC NET Result 2025 out @ugcnet.nta.ac.in

-> HSSC CET Admit Card 2025 has been released @hssc.gov.in

-> Candidates who will appear for the RRB NTPC Exam can check their RRB NTPC Time Table 2025 from here. 

-> The RRB NTPC 2025 Notification released for a total of 11558 vacancies. A total of 3445 Vacancies have been announced for Undergraduate posts like Commercial Cum Ticket Clerk, Accounts Clerk Cum Typist, Junior Clerk cum Typist & Trains Clerk.

-> A total of 8114 vacancies are announced for Graduate-level posts in the Non-Technical Popular Categories (NTPC) such as Junior Clerk cum Typist, Accounts Clerk cum Typist, Station Master, etc.

-> Prepare for the exam using RRB NTPC Previous Year Papers.

-> Get detailed subject-wise UGC NET Exam Analysis 2025 and UGC NET Question Paper 2025 for shift 1 (25 June) here

->Bihar Police Driver Vacancy 2025 has been released @csbc.bihar.gov.in.

More Interest Questions

Get Free Access Now
Hot Links: teen patti all game teen patti baaz teen patti master download teen patti tiger