Question

7. Mr. Subhash Gupta deposited * 2500 in Crystal Bank. If the Bank pays compound interest at the
rate of 12% per annum, find the amount received by Mr. Gupta after 3 years.
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Answer 1

Answer:

Given, Principal (P) = Rs 2500

Rate (R) = 12% per annum

Time (T) = 3 years

We know that, when interest is compounded Annually,

Substitute all the given values in equation (1), we get,

Therefore, Mr. Gupta will receive Rs 3512.32 after 3 years

Answer 2

Answer:

(SI)- 2500

(R)- 12%

(T)- 3 years

so SI= P×R×T/100

2500×12×3/100

= 900

Mr.Gupta ji recived rs-900

after 3 years