RRB Non Technical Model Papers 10 with solutions

Question : 5 of 100

Marks: +1, -0

On a certain sum of money lent out at 16% p.a., the difference between the compound interest for 1 year, payable half yearly, and the simple interest for 1 year is ₹ 56. The sum is

₹ 1080
₹ 7805
₹8750
₹ 5780

Validate

Solution:

(3) Let the sum be ₹ P. Now Simple interest for 1 year at 8% will be equal to compound interest for half year at 8% compounded half yearly for 1 year. So, the difference will be the interest of the thus interests,

{Pr^2} /{100 ^2}= {P× 8^2}/10000=56⇒P=₹ 8750

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