Veeru invested Rs. 2800 at 20% p.a. simple interest for

Q: Answer-Veeru invested Rs. 2800 at 20% p.a. simple interest for 3 years. After 3 years, he invested the amou...

Amount received by Veeru after 3 years of investment 2800 20 3100 2800 Rs. 4900 Therefore, sum invested by Veeru at compound interest Rs. 4900 Amount received by Veeru at the end of 5 years 49001 0.22 Rs. 7656.25

3 years. After 3 years, he invested the amount received by him at the 20% p.a. compound interest, compounded annually for another 2 years. Find the final amount received by Veeru at the end of 5 years.

A Rs. 7656.25

B Rs. 7142.4

C Rs. 7948.8

D Rs. 9100.8

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Veeru invested Rs. 2800 at 20% p.a. simple interest for

Solution