A man saves Rs 500 at the end of each year and lends the money at 5% compound interest. How
much will it become at the end of 3 years.
Choices
A) Rs 662
B) Rs 1665.01
C) Rs 1662.02
D) Rs 1655.06
E) None of these
Explanation:   =[500(21/20×21/20×21/20)+500(21/20×21/20)+500(21/20)]=1655.06   Answer: Rs 1655.06
<result>D</result>
A man saves Rs 500 at the end of each year and lends the money at 5% compound interest. How
much will it become at the end of 3 years.