Sarkari RiseLogin
SSC MTS 2019 · PYQ · Compound Interest · medium

What will be the compound interest on a sum of ₹1200 for 2 years at the rate of 20% per annum when the interest is compounded yearly?

Answer

The correct answer is B: ₹528. Combined effective rate for 2 years = 20 + 20 + (20×20)/100 = 44%. CI = (1200 × 44)/100 = ₹528.

  1. A.₹576
  2. B.₹528✓ Correct
  3. C.₹504
  4. D.₹624

Explanation

Combined effective rate for 2 years = 20 + 20 + (20×20)/100 = 44%. CI = (1200 × 44)/100 = ₹528.
💡 Practice unlimited SSC MTS PYQs + AI-tracked progress on each topic. Sign up free →

More Compound Interest questions

Want more SSC MTS practice?

Free daily 10-Q quiz · adaptive mocks · 49,000+ practice questions (19,000+ verified PYQs) · AI doubt solver in Hindi + English

Sign up freeMore Compound Interest practice