SSC MTS Model Paper 8

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Question : 88 of 100

Marks: +1, -0

A man saves 2000 at the end of each year and invests the money at 5% compound interest. A t the end of 3 years he w ill have:

4305
6305
4205
2205

Solution:

Amount =

= 2000 \( 1 + \ { 5 }/ { 100 } \) ^ { 2 }

+ 2000(1 +

5/100

)
=2000×

21/40

×

41/20

= 54305
Required amount = 4305 + 2000 = Rs. 6305

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