A man saves Rs 500 at the end of each year and lends the money at 5% compound interest.
A man saves Rs 500 at the end of each year and lends the money at 5% compound interest. How
much will it become at the end of 3 years.
Answer/Solution
Rs 1655.06
Steps/Work
Explanation:
=[500(21/20×21/20×21/20)+500(21/20×21/20)+500(21/20)]=1655.06
Answer: D
=[500(21/20×21/20×21/20)+500(21/20×21/20)+500(21/20)]=1655.06
Answer: D