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Banking Sample Paper SBI Junior Associates (Main) Sample Paper Test-2

  • question_answer
    The simple interest accrued on an amount of Rs.10000 at the end of 2 years is Rs.2000. What would be the compound interest accrued on the same amount at the same rate in the same period?

    A)  Rs.2300                     

    B)  Rs.2100

    C)  Rs.1900         

    D)       Rs.2500

    E)  Rs.2900

    Correct Answer: B

    Solution :

    \[\because \text{SI=}\frac{\text{T }\!\!\times\!\!\text{ P }\!\!\times\!\!\text{ r}}{\text{100}}\] or, \[2000=\frac{10000\times 2\times r}{100}\] \[\therefore r=10%\] Now, \[CI=P\left[ {{\left( 1+\frac{r}{100} \right)}^{n}}-1 \right]\] \[=10000\left[ {{\left( 1+\frac{10}{100} \right)}^{2}}-1 \right]\] \[=10000\times \frac{11\times 11}{100}-10000\] \[\text{=12100-10000=Rs}\text{.2100}\] Another Method: \[\text{Rate=}\frac{2000\times 100}{10000\times 2}=10%\] Now, rate of compound interest Then, \[10+10+\frac{10\times 10}{100}=21%\] Now, \[21%\] of 10000=Rs.2100


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