Question

4) Ramansheth deposited Rs. 3,50.000 at the rate of
10 p.c.p.a. for 3 years in a bank. Then how much
amount he will get at the end of period?​

Answer 1

Answer:

p=Rs.350000

n=3×12=36 months

r=10

I=p×n(n+1)/2×12×r/100

=350000×36×37/2×12×10/100

=17500×3×37

=1942500

Maturity value=p×n+I

=350000×36+1942500

=Rs.14542500