Question

manju saves rs 200 at the end of each year and lends the money at 5% compound interest
how much it will become at the end of 3 years ???????/
a 655.02
b 662.02
c 660.02
d none of thses

Answer 1

  200+5%=210 first yr amt at the end
in 2 nd year =(210+200)+5%=430.5 amt at the end
in 3 rd yr =(430.5+200)+5%=662.025
total amt at end of 3 years 662.025

Answer 2

Answer:

Rs.660.02

Step-by-step explanation:

First year :

Principal = Rs.200

Interest % = 5%

Amount = Principal +Interest

Amount = $200+\frac{5}{100} \times 200$

Amount = $210$

Second year :

She saved 200 rupees in second year .

Principal = 200+210 = 410

Interest % = 5%

Amount = Principal +Interest

Amount = $410+\frac{5}{100} \times 410$

Amount = $430.5$

Third year :

She saved 200 rupees in second year .

Principal = 200+430.5= 630.5

Interest % = 5%

Amount = Principal +Interest

Amount = $630.5+\frac{5}{100} \times 630.5$

Amount = $662.02$

So, Option C is true .

Hence it will become Rs.662.02 at the end of 3 years .