Question

a man invested rupees 3500 at 10% per annum for 3 years find the amount he would have gained had he invested his money at CI compounded annually at the same rate for the same time​

Answer 1

Answer:

Amount=4658.5

C.I=1150.5

Step-by-step explanation:

Principal=3500

Rate=10%

n=3

Amount=3500×{1+10/100}cube

=3500×11/10×11/10×11/10

=3500×1331/1000

=4658.5

C.I=Amount-Principal

=4658.5-3500

=1150.5

therefore C.I=1150.5