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

    Question

    At what % of simple interest per annum will Rs. 500

    amount to Rs. 610 in five years?
    A 5% Correct Answer Incorrect Answer
    B 11% Correct Answer Incorrect Answer
    C 4.4% Correct Answer Incorrect Answer
    D 8% Correct Answer Incorrect Answer

    Solution

    According to the question, P = Rs 500 T = 5 years ∴ 610 – 500 = (500 × R × 5)/100 ⇒ R = 11000/2500 = 4.4%

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