Dinesh opens a bank account with 20000 at the end of each year he withdraw a sum of money that makes the balance exactly half of what at the beginning of the year. If the bank pays 10% interest what will be the total amount Dinesh withdraw after 3 years

A. 17500

B. 18500

C. 19000

D. 21000

Answer: Option D

Solution(By Examveda Team)

1st year
Intial Amount : Rs. 20000
Final Amount at end of year : 20000 + 20000 of 10% = Rs. 22000
Withdraw amount : 22000 -20000/2 = Rs. 12000

2nd Year
Intial Amount : Rs. 10000
Final Amount at end of year : 10000 + 10000 of 10% = Rs. 11000
Withdraw amount : 11000-10000/2 = Rs. 6000

3rd year
Intial Amount : Rs. 5000
Final Amount at end of year : 5000 + 5000 of 10% = Rs. 5500
Withdraw amount : 5500-5000/2 = Rs. 3000

Total money Dinesh withdraw in 3 year is
12000 + 6000 + 3000 = Rs. 21000