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Railways PYQCBT 1 2016

RRB NTPC · Question 79

Find the difference between simple interest and compound interest received at the rate of 7.5% in the second year of Rs. 23,465. A. Rs. 132 B. Rs. 66 C. Rs. 147 D. Rs. 73.5

  1. A

  2. D

  3. B

  4. C

Show answer & explanation

Answer: (A) A

Explanation

In the second year, CI exceeds SI by the interest on the first year's interest: 23465 × (0.075)² = 23465 × 0.005625 ≈ Rs 132.