Paper 1 · Data Interpretation
UGC NET December 2023 (13.12.2023) Shift-II
Passage
The following table shows the number of employees working in five different colleges A to E, along with the ratio of Males to Females (M:F) among them. Based on the data in the table, answer the questions that follow.
College A: 3040 employees, ratio 13:6.
College B: 3360 employees, ratio 4:3.
College C: 2920 employees, ratio 9:11.
College D: 2760 employees, ratio 10:13.
College E: 2840 employees, ratio 13:7.
If the amount received by C is twice the money invested by him, then the amount he will receive after 2 years if he invests the same sum in compound interest for 2 years compounded half yearly is:
ARs 21229.45 ✓ Correct
BRs 21929.45
CRs 21292.45
DRs 21992.45
Correct answer: (A) Rs 21229.45 — The compound amount received by C after 2 years is Rs 21229.45.
Explanation
★The compound amount received by C after 2 years is Rs 21229.45.
★The amount received 29000 is twice the principal, so the principal is Rs 14500.
★Since simple interest equals the principal over 5 years, the simple rate is 20 percent.
★For half yearly compounding the rate becomes 10 percent per half year over 4 half years.
★So the amount is 14500 times 1.1 raised to the power 4.
★This works out to about Rs 21229.45.
Want more like this? Create a free account to practise a full test, track your progress, and get spaced-repetition review.
Shared by Mcqkart · via Mcqkart.in