RRB NTPC · Question 52
The given chart gives interest rates offered on deposits by two banks A and B for a period of 5 years (1-5). What would be the difference in interest amount earned in year 3, if a person had deposited Rs. 23 lakhs at the begining of the year in bank B instead of in bank A?

Show answer & explanation
Answer: (A) Rs. 34,500
Explanation
In year 3, bank A pays 8.5% and bank B 10%. The difference of 1.5% on Rs 23,00,000 = Rs 34,500.