Q. Leila aspires to buy a car worth Rs. 10,00,000 after 5 years. What is the minimum amount in Rupees that she should deposit now in a bank which offers 10% annual rate of interest, if the interest was compounded annually?
(A) 5,00,000
(B) 6,21,000
(C) 6,66,667
(D) 7,50,000
Ans: 6,21,000
Sol:
![Determine the correctness (or otherwise) of the following Assertion [A] and the Reason [R]](https://www.gkseries.com/blog/wp-content/uploads/2023/10/Determine-the-correctness-or-otherwise-of-the-following-Assertion-A-and-the-Reason-R.jpg)
