Question

    What will be the amount payable on Maturity of ₹2,000

    invested for a period of three years.30% p.a. interest compounded yearly?
    A ₹4,394 Correct Answer Incorrect Answer
    B ₹4,388 Correct Answer Incorrect Answer
    C ₹4,398 Correct Answer Incorrect Answer
    D ₹4,384 Correct Answer Incorrect Answer

    Solution

    Amount payable on the maturity. 2000(1 + 30/100)3 = 2000 x 1.33 =2000 x 2.197 = 4394 Rs. Rs. 4394 will be the amount payable on maturity if Rs. 2,000 is invested for a period of three years at 30% p.a. interest compounded yearly.

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