Question

What amount will Jatin get at the end of 3 years if he has invested Rs. 5000 and the rate of interest is 4% for the first year, 3% for the second year and 2% for the third year?

• A. Rs. 5460
• B. Rs. 5403.12
• C. Rs. 5463.12
• D. Rs. 5460.12

Answer 1

Answer:

C. Rs. 5463.12

Amount = Principal × (1 + r1/100) × (1 + r2/100) × (1 + r3/100) = 5000 × (1 + 4/100) × (1 + 3/100) × (1 + 2/100) = 5463.12