New 55% Off on All Courses - Enroll Now! Click Here

    Question

    What will be the amount if a sum of Rs. 5000 is placed

    at compound interest for 3 years while the rate of interest for the first, second and third years is 2%, 3% and 4% respectively?
    A Rs. 6748.56 Correct Answer Incorrect Answer
    B Rs. 5463.12 Correct Answer Incorrect Answer
    C Rs. 4487.18 Correct Answer Incorrect Answer
    D Rs. 6366.36 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount = P [1 + (r1/100)] [(1 + r2/100)] [(1 + r3/100)] Amount = 5000×(102/100)× (103/100) × (104/100) => Rs. 5463.12

    Practice Next

    Relevant for Exams: