Multiple Choice Questions on Riya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compou........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Riya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compou...........

Quantitative Aptitude ( CCS) Compound Interest
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    Riya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.

    1820.5

    Correct Answer

    1840.5

    Incorrect Answer

    1920.5

    Incorrect Answer

    1940.5

    Incorrect Answer
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    Explanation:

    Total amount  = 500*(1+10/100)3 + 500*(1+10/100)2 + 500*(1+10/100) = 1820.5

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