Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

Romesh opened a fixed deposits account in his bank for 3 years by depositing ₹80,000.The bank has promised to pay him compound interest annually at the rate of 7% per annum. What is the maturity value of his FDR? (Nearest to a ₹)

Options:

₹98,003

₹98,970

₹98,010

₹98,900

Correct Answer:

₹98,003