Multiple Choice Questions on Suppose a bank gives an interest of 10 per annum compounded annually for a fixed depo........... for CAPF (AC) Exam Preparation

Back to Main Page

Multiple Choice Questions

Suppose a bank gives an interest of 10 per annum compounded annually for a fixed depo...........

Quantitative Aptitude( Paper-I ) Profit and loss
    Download Solution PDF

    Suppose a bank gives  an  interest  of 10% per annum compounded annually for a fixed deposit for a period of two years . What should be the simple interest rate per annum if the maturity amount after two years  is  to  remain the same?

    This questions was previously asked in
    CAPF 2022 Paper-1
    View All CAPF Previous Year Papers

    10%

    Incorrect Answer

    10.5%

    Correct Answer

    11%

    Incorrect Answer

    10.5%

    Incorrect Answer
    छोटे Courses बड़े Results
    Master Profit and loss
    Prepare through Micro-courses
    Try Now
    Explanation:

    10.5%

    • Let, amount = 100
    • C. I= P (1+ 10/100)²
    • = 100 (11/10)² = 121
    • So, interest= 21
    • Simple interest
    • 21= (100×2×r)/ 100
    • r=10.5%
     

    Let's Discuss

    Master
    Profit and loss
    With abhipedia
    Micro Courses
    Try Now
    What our students have to say
    Download Abhipedia Android App

    Access to prime resources

    Downlod from playstore
    download android app download android app for free

    Search on abhipedia