Question

The accumulated amount after 3 years of
an immediate annuity of Rs. 5000 p.a.
with interest rate of 6% compounded
annually is Rs.
Select one:
a. 15918
b. 15900
c. 15921.23
d. 15000​

Answer 1

I think 15921.23 is youe answer may be i don't no

Answer 2

Given:

Time - 3years

C.I. rate - 6% annually

Principal amount - Rs. 5000

To find:

The accumulated amount

Solution:

Time - 3years

C.I. rate - 6% annually

Principal amount - Rs. 5000

$A = p {(1 + \frac{r}{n} )}^{nt}$

here, A is the accumulated amount,

p is the principal amount,

n is the number of times the rate is used,

r is the rate of interest and

t is the time.

Adding the values.

$A = 5000 {(1 + \frac{0.06}{1} )}^{1 \times 1}$

$A = 5000( {1 + 0.06)}^{1}$

$A = 5000( {1.06})^{1}$

$A = 5000 \times 1.06$

$A = 5300$

Since the amount is accumulated for 3 years,

$Total \: Amount = 5300 \times 3$

$Total \: Amount = 15900$

Therefore, the answer is (b) Rs. 15900