RRB RPF RPSF SI and CONS Model Papers 1 with solutions

Question : 28 of 120

Marks: +1, -0

A sum of money becomes 1.331 times in 3 years as compound interest. The rate of interest is

Solution:

(d)

P ( 1 + { R } /{ 100 } ) ^ { 3 } = 1.331 P

⇒( 1 + { R } /{ 100 } ) ^ { 3 } = 1.331

( 1 + { R } /{ 100 } ) ^ { 3 } = ( { 11 }/ { 10 } ) ^ { 3 }

1 + { R } /{ 100 } = { 11 } /{ 10 }

⇒ { R }/ { 100 } = { 11 }/ { 10 } - 1

⇒ { R } /{ 100 } = { 1 }/{ 10 }

R = 10%

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