Quant Exam  >  Quant Questions  >  Priya saves an amount of 500 every year and t... Start Learning for Free
Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.
  • a)
    1820.5
  • b)
    1840.5
  • c)
    1920.5
  • d)
    1940.5
  • e)
    None of these
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Priya saves an amount of 500 every year and then lent that amount at a...
Total amount = 500*(1+10/100)3 + 500*(1+10/100)2 + 500*(1+10/100)
= 1820.5
View all questions of this test
Most Upvoted Answer
Priya saves an amount of 500 every year and then lent that amount at a...
Total amount = 500*(1+10/100)3 + 500*(1+10/100)2 + 500*(1+10/100)
= 1820.5
Free Test
Community Answer
Priya saves an amount of 500 every year and then lent that amount at a...
Given Information:
Priya saves 500 every year and lends it at an interest of 10% compounded annually. The time period is 3 years.

Calculation:
- After the first year, the amount will be 500 + 10% of 500 = 500 + 50 = 550
- After the second year, the amount will be 550 + 10% of 550 = 550 + 55 = 605
- After the third year, the amount will be 605 + 10% of 605 = 605 + 60.5 = 665.5
Therefore, the amount after 3 years will be 665.5.

Final Answer:
So, the correct answer is option A) 1820.5.
Explore Courses for Quant exam
Question Description
Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant. Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. Find the amount after 3 years.a)1820.5b)1840.5c)1920.5d)1940.5e)None of theseCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice Quant tests.
Explore Courses for Quant exam

Top Courses for Quant

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev