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A bank deposit of Rs. 750,000 increases by 5% every year. What will be the total amount after 3 years?
  1. Rs. 862,500.00
  2. Rs. 867,693.75
  3. Rs. 875,000.00
  4. 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​

'A=750,000times1.157625

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