Banking Quantitative Aptitude Simple Interest Question Bank Simple Interest and Compound Interest

  • question_answer
    A man spends 85% of his monthly income, and the remaining money is deposited in the savings account for 5 years and he gets a simple interest of Rs. 2160 at the rate of 12% per annum. Out of monthly expenditure, he spends 20% on rent, 15% on food. Out of the remaining he spends 50% on clothes and remaining on education. Find the 33.33% of money that is spent on food.

    A) 1230 Rs.

    B) 1530 Rs.

    C) 1020 Rs.

    D) 640 Rs.

    E) None of these

    Correct Answer: C


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