BANKING Content

RRB ALP 13th Aug 2018 Shift-1 Question 5

Question 5

At 6% simple interest per annum a sum of money became ₹ 834 in $$6\frac{1}{2}$$ years. The sum initially invested was:

Solution

principle =rs834

rate=6%

time=6.5years

amount = $$p(1+ \frac{r}{100})t$$ (in power)

               =  $$834(1+ \frac{6}{100})6.5$$ (in power)]

       = Rs  600



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