ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!
  • google app store apple app store
    • тЬЦ

      Question

      If you invest Rs. 5,000 in a fixed deposit account with

      an annual interest rate of 8%, compounded annually, how much money will you have after 3 years?
      A Rs 5,240 Correct Answer Incorrect Answer
      B Rs 5,640 Correct Answer Incorrect Answer
      C Rs 6,480 Correct Answer Incorrect Answer
      D Rs 6,720 Correct Answer Incorrect Answer

      Solution

      Explanation:┬аUsing the compound interest formula: A = P(1 + r)^n, where P = 5000, r = 0.08, and n = 3, the amount after 3 years is Rs 6,720.

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question