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Banking Sample Paper SBI Junior Associates (Main) Sample Paper Test-3

  • question_answer
    The difference between the amount of compound interest and the simple interest accrued on an amount of Rs.11500 in 2 years is Rs.93.15. What is the rate of interest pcpa?

    A)  6%                             

    B)  11%   

    C)       8%                 

    D)       9%

    E)  None of these

    Correct Answer: D

    Solution :

    Difference \[\text{=}\frac{\text{P}{{\text{R}}^{\text{2}}}}{{{\text{(100)}}^{\text{2}}}}\] Or, \[\text{93}\text{.15=}\frac{11500\times {{R}^{2}}}{10000}\] Or, \[{{R}^{2}}=81\] \[\therefore R=9%\]


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