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  3. Railways
  4. Quantitative Aptitude
  5. Compound Interest

Railways Quantitative Aptitude Compound Interest Sample Paper Simple Interest & Compund Interest Sample Test Paper-15

  • question_answer
    A man invested Rs. 16000 at compound interest for 3 years, interest compounded annually. If he got Rs. 18522 at the end of 3 years, then the rate of interest is

    A)  4%                  

    B)  5%

    C)  6%                  

    D)  7%

    Correct Answer: B

    Solution :

    [b] \[{{(1+r)}^{3}}=\frac{18522}{16000}=\frac{9261}{8000}={{\left( \frac{21}{20} \right)}^{3}}={{\left( 1+\frac{1}{20} \right)}^{3}}\] \[\therefore \] Rate of interest \[\text{=}\frac{1}{20}=5%\]


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