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Banking Sample Paper IBPS PO (Main) Sample Test Paper-2

  • question_answer
    Direction: Study the following table carefully and answer the given questions.
    If the amount received by Ravi is equal to 5 times the interest earned by him then what will be the rate of interest if calculated at simple interest?

    A)  12.22%

    B)  8.33%

    C)  10.44%

    D)  15.55%

    E)  7.66%

    Correct Answer: B

    Solution :

    Amount received by Ravi = Rs. 29500 If amount is 5x and interest is x then principal is 4x Thus, 5x = 29500 \[\therefore \] x = 5900 \[\therefore \] Principal = 4x =23600 \[\therefore \] Rate of interest\[=\frac{5900\times 100}{23600\times 3}=8.33%\]


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