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Banking Sample Paper IBPS Clerk (PT) Sample Paper Test-2

  • question_answer
    What principal will amount to Rs.4107.50 in 5 years at the rate of 6.5% simple interest?

    A)  Rs. 2670                      

    B)  Rs.3100           

    C) Rs. 2520          

    D) Rs.4260

    E)  Rs.3060

    Correct Answer: B

    Solution :

    Let the principal be Rs. x. Then, \[4107.50-x=\frac{x\times 5\times 6.5}{100}\] or, 410750- 100x= 32.5x or, 132.5x = 410750 or\[x=\frac{410750}{132.5}=Rs.3100\]


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