Question
A person invests ₹80,000 in a mutual fund. The
investment grows at a rate of 8% per annum, compounded annually. After 3 years, he decides to withdraw ₹10,000 and reinvest the remaining amount at the same rate. After another 2 years, the remaining amount grows at the same rate, and he sells the entire amount. What is the total amount he receives after 5 years?Solution
Initial investment = ₹80,000. Rate = 8% per annum, compounded annually. Amount after 3 years: A = P(1 + r/n)^(nt) = ₹80,000(1 + 0.08)^3 = ₹80,000 × 1.2597 = ₹1,00,776. Amount remaining after withdrawing ₹10,000 = ₹1,00,776 - ₹10,000 = ₹90,776. Amount after 2 more years: A = P(1 + r/n)^(nt) = ₹90,776(1 + 0.08)^2 = ₹90,776 × 1.1664 = ₹1,06,930. Total amount = ₹1,06,930. Final amount received = ₹1,06,930. Closest option: b) ₹1,06,930.
Find the appropriate word for Blank 1.
From the following select the appropriate word to replace number (50) in the above passage.
Select the most appropriate option to fill in blank.
Choose the most appropriate word for blank 113.
Choose the most appropriate word to fill the blank (a)
Find the appropriate word.
1) year 2) quarter 3) fiscal ...
Alyssa Healy and her merry bunch will be the team that most squads, including old rival England, will be want to knock off the pedestal.
Select the most appropriate option for blank No. 4.
Choose the most appropriate word to fill the blank (d)
Relevant for Exams:
