Question

A farmer planned to control pests in his crop to increase the yield. He took a loan of ₹ 5,000 at a fixed annual interest rate for 2 years, compounded annually. He paid interest of ₹ 1,272. What was the annual interest rate? 

A 10%
B 15%
C 12%
D 5%
Practice Next

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)