Compound Interest Practice Test 6

Question : 4 of 9

Marks: +1, -0

Puneet invested Rs 6,000 compounded annually at 3% per annum in the first year, 6% during the second year and 8% during the third year. How much did he get at the end of three years?

Rs 7,750
Rs 5,770
Rs 7,570
Rs 7,075
Rs 5,077

Validate

Solution:

Amount

=P(1+R_1/100)(1+R_2/100)(1+R_3/100)

=6000×103/100×106/100×108/100

≈ 7,075

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