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Banking Sample Paper SBI Junior Associates (Main) Sample Test Paper-1

  • question_answer
    The compound interest on a certain sum for 2 years at 20% per annum is Rs. 880. The simple interest on the same sum for double the time at half the rate per cent per annum is

    A)  Rs. 800

    B)         Rs. 1000          

    C)         Rs. 1200          

    D)         Rs. 1600

    E)  Other than those given as options

    Correct Answer: A

    Solution :

    20% per annum compound rate of interest for 2 years is equivalent to \[20+20+\frac{20\times 20}{100}=44%\] 10% simple rate of interest for 4 years is equivalent to 40%. Now, \[44%\equiv 880\] \[\therefore \] \[40%\equiv 800\]


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