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Banking Sample Paper SBI PO (Main) Sample Test Paper-6

  • question_answer
    Direction: Study the following table carefully to answer the questions given below:
    Name Nature of Interest Principal Amount Year Rate (%)
    M Compound Rs.10000 4
    N Simple Rs.29500 3
    O Compound Rs.20000 2 3
    P Simple 4
    Q Compound 5 2
    What is the amount of O, if the interest is compounded yearly for 2 years?

    A)  Rs.19165.7     

    B)  Rs.20320.9     

    C)  Rs.21218                     

    D)  Rs.22418      

    E)  Rs.25300.5

    Correct Answer: C

    Solution :

     Amount \[=P{{\left( 1+\frac{R}{100} \right)}^{T}}=20000\times 1.03\times 1.03=\]Rs. 21218


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