Question

    Ankit deposits a sum of money at an annual compound

    interest rate of 12%. Over a period of 3 years, the interest accumulated amounts to Rs. 864. If he increases his initial investment by Rs. 800, what will be the total amount after 3 years at the same interest rate?
    A 4581 Correct Answer Incorrect Answer
    B 4254 Correct Answer Incorrect Answer
    C 4752 Correct Answer Incorrect Answer
    D 4160 Correct Answer Incorrect Answer

    Solution

    ATQ;
    Let 12% = 864

    Principal = 2400

    Interest on 800 = 12 × 8 = 96

    Total = (864 + 96) + 2400 + 800 = 4160

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