A bank deposit of Rs. 750,000 increases by 5% every year. What will be the total amount after 3 years?
- Rs. 862,500.00
- Rs. 867,693.75
- Rs. 875,000.00
- Rs. 900,000.00
Explanation
This is compound growth because the amount increases by 5% every year.
Given:
- Principal = Rs. 750,000
- Rate = 5%
- Time = 3 years
Formula:
A=P(1+r/100)^n
A=750,000(1.05)^3
A=750,000×1.
A=867,693.75
Last updated by NS on 06-09-2026
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