Question

Rs. 1000 was invested in a bank for 10 years at 6% S.I. After 5 years, the person deposited Rs. 500 more in the bank for the remaining 5 years. Find the amount he will receive at the end of the 10^th year?

• A. Rs.1640
• B. Rs.1740
• C. Rs.840
• D. Rs.1940
• E. None of these

Answer 1

The correct option is B

Rs.1740

Money received
= $1000+(1000\times 6\times \frac{5}{100})+(1500\times 6\times \frac{5}{100})$

$=Rs.1750$