1.

Meenal lands Rupees 75000 at CI for 3 years if the rate of interest for the first 2 years is 15% and for third year it is 16% calculate the seminal will get at the end of 3rd year

Answer»

Seminnal at the END of 3rd YEAR = 575287.5
  Solution
amount for 2 year = p(1+R/100)^N OF YERS
                             =75000(1+15/100)^2
                             =75000(115/100)^2
                             =75000*115/100*115/100
                             =75*115/10*115
                             =495937.5
amount at the end =495937.5(1+16/100)^1
                              =575287.5


Discussion

No Comment Found

Related InterviewSolutions