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Railways PYQCBT 2 2017

RRB NTPC · Question 21

An amount was invested at a simple rate of interest p.a. for 5 years. It would have fetched Rs. 300 more had it been invested at 2% higher rate. What was the amount invested?

  1. Rs. 3300

  2. Rs. 3000

  3. Rs. 2000

  4. Rs. 2300

Show answer & explanation

Answer: (B) Rs. 3000

Explanation

A 2% higher rate for 5 years earns 10% of the principal more. 10% of P = 300, so P = Rs 3000.