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A man invests Rs. 5000 at a rate of 5% per annum compounded annually. What will be the amount after 3 years? (2020)

Practice Questions

1 question
Q1
A man invests Rs. 5000 at a rate of 5% per annum compounded annually. What will be the amount after 3 years? (2020)
  1. Rs. 5750
  2. Rs. 6300
  3. Rs. 5000
  4. Rs. 5798.75

Questions & Step-by-step Solutions

1 item
Q
Q: A man invests Rs. 5000 at a rate of 5% per annum compounded annually. What will be the amount after 3 years? (2020)
Solution: Amount = P(1 + r)^n = 5000(1 + 0.05)^3 = 5000(1.157625) = 5798.75.
Steps: 0

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