Latest Tech Mahindra Aptitude Question SOLUTION: Rs.400 at 5% p.a compound interest will amount to Rs.441 in ________ years (interest compounded yearly). a) 1 year b) 2 years c) 3/2 year d) 5 years

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(#M40155728) TECH MAHINDRA Numerical Ability question Numerical Ability Keep an EYE

Rs.400 at 5% p.a compound interest will amount to Rs.441 in ________ years (interest compounded yearly).

a) 1 year
b) 2 years
c) 3/2 year
d) 5 years

Asked In Tech Mahindra Aashu (8 years ago)

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yogita vishwakarmaj  (8 years ago)

b)
1st year compound interest is =400*5/100 = 20
2nd year compound interest is = first year CI + 5%of first year CI= 20 + 20*5/100=>20+1=>21
total CI= first year CI + second year CI= >20+21=21
so total amount to paid = 400 +41=441
so answer is 2 year (b)

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