![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](https://www.gkseries.com/blog/wp-content/uploads/2023/09/Leila-aspires-to-buy-a-car-worth-Rs.-1000000-after-5-years.-What-is-the-minimum-amount-in-Rupees-that-she-should-deposit-now-in-a-bank.jpg)
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:
![](https://www.gkseries.com/blog/wp-content/uploads/2023/09/Screenshot-966.png)