Question

9.
A man saves + 3,000 every year and invests
it at the end of the year at 10% compound
interest. Calculate the total amount of his
savings at the end of the third year. without using formula

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Answer 1

Answer:

For the first year, on interest being compounded at R=10 %, we have

Amount=P(1+ 100R ) N

=3,000×(1+ 10010 ) 1

=3,000×1.1=Rs3,300

For the second year, P=Rs 3,300+Rs 3000=Rs 6,300 on interest being compounded at R=10 %, we have

Amount=P(1+ 100R ) N

=6,300×(1+ 10010 ) 1

=6,300×1.1=Rs6,930

At the end of third year, P=Rs 6,930+Rs 3000=Rs 9,930

Step-by-step explanation:

here's ur answer mate