New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    At what % of simple interest per annum will Rs. 400

    amount to Rs. 620 in five years?
    A 5% Correct Answer Incorrect Answer
    B 11% Correct Answer Incorrect Answer
    C 10% Correct Answer Incorrect Answer
    D 8% Correct Answer Incorrect Answer

    Solution

    According to the question, P = Rs 400 T = 5 years ∴ 620 – 400 = (400 × R × 5)/100 ⇒ R = 22000/2000 = 11%

    Practice Next

    Relevant for Exams: