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Discussion :: IBPS BANK EXAM TEST 9

  1. What is the difference between the simple and compound interest earned from a sum of Rs. 13033 at a rate of 13 percent per annum for a period of 3 years (rounded off to 2 digits after decimal) ?
    2. A.

    Rs. 5082.87
    B.

    Rs. 689.41
    C.

    Rs. 5772.28
    D.

    Rs. 680.94
    E.

    None of these

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    Answer : Option E

    Explanation :

    S.I = (13033 * 13 * 3)/100

    = Rs. 508.17

    C.I = 13033 [(1 + 13/100)3 - 1]


    = 13033 * 0.44
    =Rs. 5772.28 Difference = 5772.28 - 508.17
    = Rs. 5264.11

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