1.

A man invests Rs. 2000 at 5% compound interest. At the end of 3 years he will get a total amount of:1. Rs. 23052. Rs. 2316.253. Rs. 2315.254. Rs. 2205

Answer» Correct Answer - Option 3 : Rs. 2315.25

Given:

Principal = Rs. 2000

Rate of interest = 5%

Time = 3 years

Formula used:

Amount = Principal{1 + (rate/100)}time

Calculation:

Amount = Principal{1 + (rate/100)}time

⇒ 2000{1 + (5/100)}3

⇒ 2000(21/20)3

⇒ 2000 × (9261/8000)

⇒ 9261/4

⇒ 2315.25

∴ The amount will get after 3 years is Rs. 2315.25.



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