New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Avantika gets a SI of Rs.4800 on a certain principal at

    the rate of 6%p.a. in 4 years. What CI will she get on twice the principal in two years at the same rate? 
    A Rs.4944 Correct Answer Incorrect Answer
    B Rs.4988 Correct Answer Incorrect Answer
    C Rs.4878 Correct Answer Incorrect Answer
    D Rs.4678 Correct Answer Incorrect Answer

    Solution

    P= (SI  × 100)/(R  × T) = (4800  × 100)/(6  × 4) = 20000 CI = P[1+ R/100]t      -  P CI = 40000[1+ 6/100]2  - 40000 CI = 40000  ×  106/100  × 106/100  -   40000 =    44944  - 40000 =    Rs. 4944

    Practice Next

    Relevant for Exams: