Menu
Home / IBPS BANK EXAM / IBPS BANK EXAM TEST 1 :: Discussion

Discussion :: IBPS BANK EXAM TEST 1

  1. What would be the compound interest obtained on an amount of Rs.8800 at the rate of 16 p.c.p.a after 2 years?


    2. A.

    Rs.3041.25
    B.

    Rs. 3014.28
    C.

    Rs. 3044.69
    D.

    Rs.3040.28
    E.

    None of these

    View Answer

    Workspace

    View Answer

    Answer : Option D

    Explanation :

    CI = P[(1+R/100)T - 1]

       = 8800[(1+16/100)2 - 1 ]

       = 8800[(29/25)2 - 1]

       = 8800[841/625 -1]

       = 8800 * 216 / 625

    Rs. 3041.28

Write your comments here:

Be The First To Comment