A man saves Rs. 200 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?

A. Rs. 565.25
B. Rs. 635
C. Rs. 662.02
D. Rs. 666.50

Explanation:

Amount = [200(1 + 5/100)³ + 200(1 + 5/100)² + 200(1 + 5/100)]

= [200 * 21/20(21/20 * 21/20 + 21/20 + 1)] = Rs. 662.02