Q71
ArithmeticSimple & Compound Interest
If the compound rate of interest for the 1st, 2nd and 3rd year be 4%, 5% and 6% respectively, then find the amount a man will receive at the end of 3 years investing ₹ 25,000.
- a.₹ 28,938
- b.₹ 27,938
- c.₹ 28,948
- d.₹ 28,937
Answer: (A) ₹ 28,938
Amount = 25000 × 1·04 × 1·05 × 1·06. Step by step: 26000, then 27300, then 28938. So the man receives ₹ 28,938; the other figures are off by small arithmetic slips.