Question

a man invests 3000 for 3 years. after 1 year the money amounts to 3240. find rate and amount due at the end of 3 years​

Answer 1

Answer:

this is the compound interest method.

Step-by-step explanation:

rate of interest is 8℅ per annum

when find C.I.

principle is 3000

rate is 8℅

time is 3 year.

formula is = p*r/100

1st year int. is 3000*8/100

240/

2nd year int is. 3000+240=3240

then 3240*8/100

259.2/

3rd year int is. 3240+259.2=3499.2

3499.2*8/100

279.936/

3499.2+279.936

=3779.936

after 3 year total amount is 3779.936/-

I hope it's help you...