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17 vote

A man saves Rs.2000 at the end of each years and invets the money at 5% compound interest. At the end of 3 years he will have :

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A man saves Rs.2000 at the end of each years and invets the money at 5% compound interest. At the end of 3 years he will have :
1). Rs.4305
2). Rs.6305
3). Rs.4205
4). Rs.2205

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2 answers

28 vote
Answered by on | Votes 28 |
option 2 is the right answer

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27 vote
Answered by on | Votes 27 |

Here is the right answer

Amount

= 2000$( 1+\frac{5}{100}) ^{2}$ +$( 1+\frac{5}{100})$

Required amount
= 4305 + 2000 = 6305

Accepted Answer




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