A certain sum of money has been deposited in state bank for 3 consecutive years at simple interest of 11 % per annum at simple interest. If 3 years later his bank account is rs 15006, then find out how much money he has deposited each year?
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Answer:
let money=x
A=p(1+r/100)
15006=x(1+11/100)³
15006=1367631x/1000000
x=15006×1000000/13767631
= 1089.95₹
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