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Railways PYQCBT 2 2017

RRB NTPC · Question 62

The total amount of interest received on two deposits of Rs. 5,000 for 4 years and Rs. 4,000 for 5 years, made at the same simple rate of interest per annum was Rs. 2,400. Find the rate of interest per annum.

  1. 4%

  2. 7%

  3. 6%

  4. 8%

Show answer & explanation

Answer: (C) 6%

Explanation

Interest = 5000 × 4 × r/100 + 4000 × 5 × r/100 = 200r + 200r = 400r. Setting 400r = 2400 gives r = 6%.