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WBCS Main Examination 2023 — Paper VI: Arithmetic and Test of Reasoning · Question 187 of 200

Q187
ArithmeticSimple & Compound Interest
In how many years will ₹ 2,000 amount to ₹ 2,420 at 10% per annum compound interest?
  1. a.3
  2. b.$2\frac{1}{2}$
  3. c.$1\frac{1}{2}$
  4. d.2

Answer: (D) 2

$\frac{2420}{2000} = 1.21 = 1.1^2$, so the time is 2 years. Check: 2000 → 2200 → 2420. 3 years would give ₹ 2,662.

Q186 Whole paperQ188