New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    A invested Rs. ‘x’ in a scheme offering compound

    interest of 10% p.a. compounded annually. If at the end of 2 years, interest received by A was Rs. (x – 6320), then find the value of ‘x’.
    A 8200 Correct Answer Incorrect Answer
    B 8300 Correct Answer Incorrect Answer
    C 8000 Correct Answer Incorrect Answer
    D 8100 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to the question, x – 6320 = x × 1.1 × 1.1 – x Or, 0.79x = 6320 Or, x = 8000

    Practice Next