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  9. Q172

SBI Junior Associate 2023 · Question 172 of 188

Q104. A person invested Rs. P in a scheme that offers 19.8% interest, which is compounded annually for two years and two days. If the amount received from this scheme is reinvested at the same rate for the same period of time in the same scheme, then he will receive Rs. 792 as interest. Find the approximate value of P.

compound-interest

  1. A(a) 2500
  2. B(b) 1250Correct
  3. C(c) 1450
  4. D(d) 1320
  5. E(e) 1000

Answer: B. (b) 1250

Official answer key verified. Detailed explanation coming soon.

Source: SBI Clerk Mains Memory Based 2023-2024 (BankersAdda; 2023 recruitment cycle, mains held 25 Feb 2024) · memory-based

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