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Banking Sample Paper IBPS PO (Main) Sample Test Paper-2

  • question_answer
    Direction: Study the following table carefully and answer the given questions.
    If Raman invests his money, which is compounded annually for 3 years at the rate 4% per annum then what is the ditrerence between the amount earned by Raman after 3 years and that after 2 years?

    A)  Rs. 865.28      

    B)  Rs. 965.78      

    C)  Rs. 765.28

    D)  Rs. 765.78      

    E)  Rs. 865.78

    Correct Answer: A

    Solution :

    Reqd difference \[=P{{\left( 1+\frac{R}{100} \right)}^{3}}-P{{\left( 1+\frac{R}{100} \right)}^{2}}\] \[=20000{{\left( 1+\frac{4}{100} \right)}^{3}}-20000{{\left( 1+\frac{4}{100} \right)}^{2}}\] \[=20000{{(1.04)}^{2}}(1.04-1)\] \[=20000(0.043264)=Rs.\,865.28\]


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