Q381
If deposited money Rs 10,000 in bank pays interest 10% annually, an amount after five years will be
A.
Rs 16,105.14
AnswerB.
Rs 16,110.14
C.
Rs 16,115.14
D.
Rs 16,505.14
Answer: Option A
Solution
Answer: Option A
Solution:
FV = PV ( 1 + r/100 )ⁿ = 10000 ( 1 + 10/100)⁵
= Rs 16,105.14