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Banking Sample Paper SBI Clerk Grade (Main) Sample Test Paper-2

  • question_answer
    What would be the compound interest obtained on an amount of Rs. 5300 at the rate of 15 p.c.p.a. after 2 years?

    A)  Rs. 1709.25     

    B)  Rs. 1685.65

    C)  Rs. 1804.25                 

    D)  Rs. 1525.65

    E)  None of these

    Correct Answer: A

    Solution :

     \[CI=P\left[ {{\left( 1+\frac{R}{100} \right)}^{T}}-1 \right]\]             \[=5300\left[ {{\left( 1+\frac{15}{100} \right)}^{2}}-1 \right]\]             \[=5300\left[ {{(1.15)}^{2}}-1 \right]\]             \[=5300(1.3225-1)\]             \[=5300\times 0.3225\]             \[=Rs.1709.25\]


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