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MHT CET · Maths · Differential Equations

The principal increases continuously in a newly opened bank at the rate of \(10 \%\) per year. An amount of Rs. 2000 is deposited with this bank. How much will it become after 5 years? \(\left(e^{0.5}=1.648\right)\)

  1. A \(3926\)
  2. B \(3296\)
  3. C \(3692\)
  4. D \(3269\)
Verified Solution

Answer & Solution

Correct Answer

(B) \(3296\)

Step-by-step Solution

Detailed explanation

\(A = P e^{rt}\) \(A = 2000 e^{(0.10 \times 5)}\)