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Banking Sample Paper IBPS PO (PT) Sample Test Paper-3

  • question_answer
    The simple interest accrued on a sum is Rs. 30,520 in five years at the rate of 10%. What would be the compound interest accrued on that principal at the rate of 3% in 2 years (do not calculate exact amount)?

    A)  Rs.557             

    B)  Rs.6927           

    C)         Rs.5768           

    D)         Rs.4737

    E)  Rs.3717

    Correct Answer: E

    Solution :

    Principal \[=30520\times \frac{100}{10\times 5}=Rs.61040\] Now. \[Cl=61040{{\left( 1+\frac{3}{100} \right)}^{2}}-61040\] \[=61040\times \frac{103}{100}\times \frac{103}{100}-61040\] \[=Rs.64757.336-61040\approx Rs.3717\]


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