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    Question

    A man invested Rs.22000 in a fixed deposit scheme for 3

    yrs at CI of 5% p.a. How much will a man get on maturity of the fixed deposit?┬а
    A 25955.08 Correct Answer Incorrect Answer
    B 25467.75 Correct Answer Incorrect Answer
    C 25972 Correct Answer Incorrect Answer
    D 22813.13 Correct Answer Incorrect Answer

    Solution

    ┬аA =┬а [1+ r/t ]t A = 22000[1+ 5/100 ]3 A = 22000 [ 105/100 ]3 A =22000 X105/100 ┬а X105/100┬а X105/100 ┬а = Rs.25467.75

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