4. Nisha deposits 12,000 in a bank at 10% per annum
compounded annually. How much interest will she
receive at the end of three years?
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Answer:
answer -- total interest =3,972 ruppes at the end of year
Explanation:
1st year interest -- 1200; 10%of 12000;= 12000+1200=13200
2nd year interest -- 1320 ; 10% of 13200= 13200+1320=14520
3rd year interest --1452 ; 10% of 14520= 14520+1452= 15972
total interest = 15972- 12000 = 3972
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