Instructions
Directions for the next five questions: Study the following table carefully to answer the questions. Rate of interest (pcpa) offered by five companies on deposits under different schemes
Question 65
Mr. Lal invested Rs. 30000 in company A under Scheme II, which offers simple interest and Rs. 48000 in Company D under Scheme II, which offers compound interest. What will be the total amount of interest earned by Mr Lal in two years?
Solution
(30000×9.5×2)/100 + (48000× 109/100× 109/100- 48000) = 5700 + (57028.8 - 48000)
= 5700 + 9028.8 = Rs. 14728.80
Create a FREE account and get:
- Banking Quant Shortcuts PDF
- Free Banking Study Material - (15000 Questions)
- 135+ Banking previous papers with solutions PDF
- 100+ Online Tests for Free
