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Banking Quantitative Aptitude Sample Paper Quantitative Aptitude Sample Paper-3

  • question_answer
    Vikram invested Rs. 2 lakh at a simple interest rate of 12% per annum for one year. He then added Rs. 500 to total amount accumulated at the end of one year and earned simple interest at the rate of 13% per annum. How much amount he would have earned as a simple interest at the end of the second year?     [LIC (ADO) 2015]

    A)  Rs. 26065

    B)  Rs. 26940

    C)  Rs. 26445

    D)  Rs. 29185

    E)  Rs. 29595

    Correct Answer: D

    Solution :

    [d] Given, P = Rs. 200000,
    Rate (r) = 12% per annum, t = 1 yr
    \[SI=\frac{P\times R\times T}{100}=\frac{200000\times 12\times 1}{100}=Rs.\,24000\]
    Total amount \[=200000+24000=Rs.\,224000\]
    When Rs. 500 added then total amount
    \[=224000+500=Rs.\,\,224500\]
                Now, P = Rs. 224500, r = 13%, t = 1 yr
                \[SI=\frac{224500\times 13\times 1}{100}=Rs.\,29185\]


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