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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
    At what rate of interest the amount of N becomes five times that of his principal?

    A)  63.58%                       

    B)  69.96%      

    C)  60%                            

    D)  133.33%   

    E)  162.58%

    Correct Answer: D

    Solution :

       Amount of \[N=\]Rs. 29500 \[\therefore \]Principal \[=\frac{29500}{5}=\]Rs. 5900 Time = 3 years \[\therefore \]Interest = Amount- Principal \[=29500-5900=23600\] \[\therefore \]Reqd rate \[=\frac{\text{Intrest}\,\text{ }\!\!\times\!\!\text{ }\,\text{100}}{\text{Principal}\,\text{ }\!\!\times\!\!\text{ }\,\text{time}}\] \[=\frac{23600\times 100}{5900\times 3}=\frac{400}{3}=133.33%\]


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