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    Question

    What will be the amount if a sum of Rs. 5000 is placed

    at compound interest for 3 years while the rate of interest for the first, second and third years is 2%, 3% and 4% respectively?
    A Rs. 6748.56 Correct Answer Incorrect Answer
    B Rs. 5463.12 Correct Answer Incorrect Answer
    C Rs. 4487.18 Correct Answer Incorrect Answer
    D Rs. 6366.36 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount = P [1 + (r1/100)] [(1 + r2/100)] [(1 + r3/100)] Amount = 5000 × (102/100) × (103/100) × (104/100) => Rs. 5463.12

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