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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 Rahul invests 20% more money than that invested by Rakesh, what will be the amount received by Rahul after 3 years if he invests the amount at the rate 2% compounded annually?

    A)  Rs. 12484.876   

    B)  Rs. 12734.496   

    C)  Rs. 12979.896

    D)  Rs. 13498.496   

    E)  Rs. 13082.396

    Correct Answer: B

    Solution :

    Money invested by Rakesh = Rs. 10000 Money invested by Rahul\[=10000\times \frac{120}{100}\]\[=Rs.\,12000\] \[\therefore \]Amount\[=P{{\left( 1+\frac{R}{100} \right)}^{3}}=12000{{\left( 1+\frac{2}{100} \right)}^{3}}\] \[=12000\times 1.02\times 1.02\times 1.02\] \[=Rs.\,12734.496\]


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