Shivani invests Rs. 12000 as fixed deposit at a bank at the rate of 10% per annum simple interest. But due to some press

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Q 2234401352.     Shivani invests Rs. 12000 as fixed deposit at a bank at the rate of 10% per annum simple interest. But due to some pressing needs, he has to withdraw the entire money after 3 yr, for which the bank allowed him a lower rate of interest. If he gets Rs. 3320 less than, what he would have got at the end of 5 yr, the rate of interest allowed by bank is
IBPS-CLERK 2017 Mock Prelims
A

`17 15/19%`

B

`13 13/17%`

C

`19 9/11%`

D

`18 8/11%`

E

None of these

HINT


Solution
(Provided By a Student and Checked/Corrected by EXXAMM.com Team)

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