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- A man saves Rs.
Question 1:
A man saves Rs. 200 at the end of each year and lends the money at 5% compound interest.How much will it become at the end of 3 years?
A. Rs. 565.25
B. Rs. 635
C. Rs. 662.02
Feedback Amount = [200(1 + 5/100)3 + 200(1 + 5/100)2 + 200(1 + 5/100)]
= [200 * 21/20(21/20 * 21/20 + 21/20 + 1)] = Rs. 662.02
= [200 * 21/20(21/20 * 21/20 + 21/20 + 1)] = Rs. 662.02
D. Rs. 666.50
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