Railways PYQCBT 1 2020

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?

Figure
  1. Rs. 34,500

  2. Rs. 28,800

  3. Rs. 37,600

  4. Rs. 41,200

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.