Question

    What will be the future value of ₹50,000 invested

    today for 3 years at a compound annual interest rate of 10%?
    A ₹65,000 Correct Answer Incorrect Answer
    B ₹66,550 Correct Answer Incorrect Answer
    C ₹66,000.00 Correct Answer Incorrect Answer
    D ₹64,000.00 Correct Answer Incorrect Answer

    Solution

    FV = PV × (1 + r) n = 50,000 × (1.1)3 = 50,000 × 1.331 = ₹66,550

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