Test Index

IBPS RRB Officer Scale 1 Model Paper 14

© examsnet.com

Question : 71 of 80

Marks: +1, -0

A man deposited Rs. 40000 in a bank at 10% pa compound annually for two years. He wanted to keep the amount deposited for the third year also, but there was a new law in place that for any amount in account that date onwards any annual interest greater than Rs. 2500 would be taxed.Also the rate of interest was reduced to 8% pa. What amount should he remove from his account to ensure that he just avoids paying the tax? Assume that his account had zero balance before he deposited Rs. 40000.

Rs. 31250
Rs. 24000
Rs. 21684
Rs.18050
Rs. 17150

Go to Question:

Prev Question

Next Question