Question 121

If Rahim deposited the same amount of ₹ x in a bank at the beginning of successive 3 years and the bank pays simple interest of 5% per annum, then the amount at his credit at the end of 3rd year will be:

Solution

Principal added after each year = Rs. $$x$$

Rate of interest = 5% and time period = 3 years

Simple interest after 1 year = $$\frac{P\times R\times T}{100}$$

= $$\frac{x\times5\times1}{100}=Rs.$$ $$\frac{x}{20}$$

Principal for 2nd year = $$(2x+\frac{x}{20})=Rs.$$ $$\frac{41x}{20}$$

S.I. after 2nd year = $$\frac{41x}{20}\times\frac{5}{100}$$

= Rs. $$\frac{41x}{400}$$

Principal for 3rd year = $$(3x+\frac{41x}{400})=Rs.$$ $$\frac{1241x}{400}$$

S.I. after 3rd year = $$\frac{1241x}{400}\times\frac{5}{100}$$

= Rs. $$\frac{1241x}{8000}$$

$$\therefore$$ Required amount = $$(3x+\frac{1241x}{8000})=Rs.$$ $$\frac{25241x}{8000}$$

=> Ans - (C)


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