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

    Question

    An individual invests ₹1,200 at a simple interest rate

    of 5% per annum. After 2 years, they add ₹800 to the investment, and the total amount remains invested for another 3 years at the same rate. What is the total interest earned from both investments over the 5-year period?
    A 464 Correct Answer Incorrect Answer
    B 438 Correct Answer Incorrect Answer
    C 348 Correct Answer Incorrect Answer
    D 318 Correct Answer Incorrect Answer
    E 286 Correct Answer Incorrect Answer

    Solution

    Interest on the Initial Deposit of 1,200 for the First 2 Years Principal after 2 Years = 1200 + 120 = 1320 And 800 is added additionally Total principal for investing for next 3 years = 1320+800 = 2120  Interest on the 2120 for the Remaining 3 Years total interest earned over the entire 5-year period = 120+318 = 438

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