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Home Aptitude Compound Interest See What Others Are Saying!
  • Question
  • What is the rate of interest p.c.p.a.? I. An amount doubles itself in 5 years on simple interest. II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400. III. Simple interest earned per annum is Rs. 2000


  • Options
  • A. I only
  • B. II and III only
  • C. All I, II and III
  • D. I only or II and III only

  • Correct Answer
  • I only or II and III only 

    Explanation

    I . P * R * 5 100 = P ? R = 20

      I I . P 1 + R 100 2 - P - P * R * 2 100 = 400 = > p R 2 = 4000000

      I I I . P * R * 1 100 = 2000 = > P R = 200000

      P R 2 P R = 4000000 200000 ? R = 20

     

    Thus I only or (II and III) give answer.

     

     Correct answer is (D)

  • Tags: Bank Exams, Bank PO

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