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Railways PYQCBT 1 2020

RRB NTPC · Question 67

If interest is compounded annually, a sum of Rs 25,000 becomes Rs 36,000 after 2 years. The rate of interest is:

  1. 5%

  2. 22%

  3. 20%

  4. 15%

Show answer & explanation

Answer: (C) 20%

Explanation

36000/25000 = 1.44 = (1.2)², so the rate is 20% per annum.