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Discussion :: IBPS BANK EXAM TEST 2

  1. The difference between the compound interest and simple interest accrued on an amount at the end of three years at the rate of 12% is Rs.381.888. What is the amount?

    2. A.

    Rs. 9500
    B.

    Rs. 8400
    C.

    Rs. 7200
    D.

    Rs.8000
    E.

    None of these

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    Answer : Option E

    Explanation :

    C.I = P[(1+R/100)T - 1]
    = P[(1+12/100)3 - 1] = P[(28/25)3 - 1]
    = P[(21952/15625) - 1]
    = 6327P/15625
    S.I = (P * 3 * 12)/100 = Rs. 9P/25
    6327P/15625 - 9P/25 = 381.888
    => 702P/15625 = 381.888
    => P = (381.888*15625)/702
    = Rs. 8500

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