Question

45. A man deposit 500 at the beginning of each year for 2 yr at 10% per annum compound annually. Find the maturity value at the end of the 2nd year. RRB NTPC (Phase-1) 2016 (1) 1050 dis (2) 1150 (3) 1155 lein (4) 1200

11th - 12th Class

Maths

Solution

4.0 (1 ratings)

45. (3) We know that, ( C=Pleft(1+frac{r}{100}right)^{n} ) After one year [ begin{aligned} text { Principle } &=500left(1+frac{10}{100}right)^{1}+500 &=frac{500 times 11}{10}+500 &=1050 end{aligned} ] So, maturity value at end of 2 end years [ begin{array}{l} =1050left(1+frac{10}{100}right)^{1}=1050 times frac{11}{10} =₹ 1155 end{array} ]

45. A man deposit 500 at the beginning of each year for 2 yr at 10% per annum compound annually. Find the maturity value at the end of the 2nd year. RRB NTPC (Phase-1) 2016 (1) 1050 dis (2) *1150 (3) 1155 lein (4) * 1200

45. A man deposit 500 at the beginning of each year for 2 yr at 10% per annum compound annually. Find the maturity value at the end of the 2nd year. RRB NTPC (Phase-1) 2016 (1) 1050 dis (2) 1150 (3) 1155 lein (4) 1200