Compound Interest Practice Test 5

Question : 18 of 40

Marks: +1, -0

What will be the amount of Rs. 1500 after 3 years if the rate of compound interest per annum is 3%, 4% and 5% for the first, second and third year respectively?

Rs. 1780.14
Rs. 1880.40
Rs. 1687.14
Rs. 1785.60

Validate

Solution:

Amount

=1500[(1+3/100)(1+4/100)(1+5/100)]

=1500×103/100×104/100×105/100

=1687.14

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