RBI Grade B Officer (General / DEPR / DSIM) 2023 · Question 105 of 260
Simple & Compound Interest
2 Detailed solution: Quantity I: Let the cost price of the article = Rs. '100x' Then, P = 100x X 1.36 - 140 = Rs. (136x - 140) And, Q = 100x X 1.28 - 120 = Rs. (128x - 120) According to the question, (136x - 140) : (128x - 120) = 19:18 Or, 2448x - 2520 = 2432x – 2280 Or, 16x = 240 So, x = (240/16) = 15 Therefore, cost price of the article = 15 X 100 = Rs. 1,500 So, quantity I = Rs. 1,500 Quantity II: Compound interest received on investing Rs. 10,500 = 10500 X {1 + (y/100)} ² - 10500 = 2205 Or, 10500 X {1 + (y/100)} ² = 10500 + 2205 = 12705 So, {1 + (y/100)} ² = 12705 ÷ 10500 = 1.21 So, {(100 + y)/100} = √1.21 = 1.1 So, 100 + y = 110 So, y = 110 - 100 = 10 Therefore, (y + 5) % = 15% Compound interest received on investing Rs. 4800 = 4800 X {1 + (15/100)} ² - 4800 = 4800 X 1.15² - 4800 = 6348 - 4800 = Rs. 1,548 So, Quantity II = Rs. 1,548 Therefore, quantity I < quantity II
Source: RBI Grade B 2023 – Phase 1 recollected questions with answer key (EduTap compilation) · memory-based
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