Question

(1) A man wants to have Rs. 4.00.000 in 8 years. How much money must be invest now if the rate of
interest is 7% compound interest​

Answer 1

Answer:

p = 4.00.000

t = 8 yrs

interest = 7 %

s.i. = p×r×t

s.i= 4.00.000×8×7/100 = 22400

so amount= 400000 + 22409 = 624000