Question

a man deposits rupees 870 in a post office saving bank account which allowed 5% interest on 1 Rupee for a year if there are no withdrawal during the year find the man's credit balance at the end of the year ​

Answer 1

Answer:

Answer is 4350

Step-by-step explanation:

PTR by 100

Answer 2

The man's credit balance at the end of the year ​is 913.5

Step-by-step explanation:

Principal = Rs.870

Rate of interest = 5%

Time = 1 year

$Amount =P(1+r)^t$

$Amount = 870(1+0.05)^1$

Amount = 913.5

Hence the man's credit balance at the end of the year ​is 913.5

#Learn more:

Harvinder deposited rupees 40000 in a post office for a period of 3 years the post office credits the interest yearly in his account 7% per annum compounded annually find the balance in his account at the end of 3 years

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