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Discussion :: IBPS BANK EXAM TEST 8

  1. What will be the compound interest accrued on a principal of Rs. 32,500 at the rate of 5 p.c.p.a. after a period of 2 years.
    2. A.

    Rs. 3332.78
    B.

    Rs. 3335.35
    C.

    Rs. 3333.27
    D.

    Rs. 3331.25
    E.

    None of these

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    Answer : Option D

    Explanation :

    C.I = P[(1 + R/100)T - 1 ]
    = 32500[(1 + 5/100)2 - 1]
    = 32500[(21/20)2 - 1]
    = 32500 * 41/400 = Rs. 3331.25

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