A sum of Rs. 40,000 is invested for 3 years at 8% interest compounded annually. What is the percentage increase in his income at the end of 3 years correct to two decimal places?

A sum of Rs. 40,000 is invested for 3 years at 8% interest compounded

1.	A sum of Rs. 40,000 is invested for 3 years at 8% interest compounded annually. What is the percentage increase in his income at the end of 3 years correct to two decimal places?
A.	25.97%
B.	24.75%
C.	26.32%
D.	26.85%
Answer» B. 24.75%

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A sum of Rs. 40,000 is invested for 3 years at 8% interest compounded annually. What is the percentage increase in his income at the end of 3 years correct to two decimal places?

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