Mathematics for FinancePYQ May 19Question 1181 of 512
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A man deposited 8,000\displaystyle 8,000 in a bank for 3\displaystyle 3 years at 5%\displaystyle 5\% per annum compound interest, after 3\displaystyle 3 years he will get

Options

A9200\displaystyle 9200
B8800\displaystyle 8800
C9000\displaystyle 9000
D9261\displaystyle 9261
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Correct Answer

✅ Option d — 9261\displaystyle 9261

All Options:

  • A9200\displaystyle 9200
  • B8800\displaystyle 8800
  • C9000\displaystyle 9000
  • D9261\displaystyle 9261

Detailed Solution & Explanation

**Derivation of Future Value** Given: - Principal (P\displaystyle P) = Rs. 8,000\displaystyle \text{Rs. }8,000 - Time (t\displaystyle t) = 3\displaystyle 3 years - Rate of Interest (r\displaystyle r) = 5%\displaystyle 5\% per annum compounded annually **Step 1: Calculate the future value (A\displaystyle A)** A=P(1+r)tA = P(1 + r)^t A=8000(1+0.05)3A = 8000(1 + 0.05)^3 A=8000(1.05)3A = 8000(1.05)^3 A=8000×1.157625=Rs. 9,261A = 8000 \times 1.157625 = \text{Rs. }9,261 Hence, **Option D** is the correct answer.

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