Apedia Logo Apedia
Join

Choose Language

Select your preferred reading language
🇬🇧
English
✔
🇮🇳
हिन्दी
✔
✕
Full View
Quantitative Aptitude
Compound Interest
EN हिंदी
✕
NTPC Graduate Tier 1 2025 Shift-3 📅 05 Jun, 2025

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

A
₹98,020
B
₹98,802
C
₹98,837
D
₹98,984
Result Summary
Logo

APEDIA

NTPC Graduate Tier 1
2025 • 05 Jun, 2025 • Shift-3
Akshat invested ₹90,625 at 8% p.a. for 1 year at compound interest, compounded half-yearly. The amount received by him is:
Correct Answer
₹98,020
[Financial Formula Setup]: For compound interest calculated half-yearly, the annual rate is halved, and the time period is doubled. The effective rate becomes 8......
Ref/Book : NTPC Graduate Tier 1 2025
Ref. Subject Quantitative Aptitude
Chapter -
Ref. Topic Compound Interest
Pg. No -
💡 Analysis & Explanation
[Financial Formula Setup] ▼
For compound interest calculated half-yearly, the annual rate is halved, and the time period is doubled. The effective rate becomes 8% / 2 = 4% per cycle, and the time frame becomes 1 × 2 = 2 cycles.
[Multiplier Application] ▼
The formula for the final amount is Principal × (1 + Rate/100)^Time. This translates to 90,625 × (1 + 4/100)².
[Fractional Simplification] ▼
The multiplier (1.04) can be written as the fraction 26/25. The equation becomes 90,625 × (26/25) × (26/25) = 90,625 × (676 / 625).
[Final Computation] ▼
Dividing the principal 90,625 by the denominator 625 yields 145. Multiplying 145 by the numerator 676 results in exactly 98,020.
Conclusion ▼
The total accumulated amount is ₹98,020.
← Prev
63 / 100
Next →