Question

A man invests Rs 10,000 in a bank for 1 ½ years at the interest rate of 7 1/2 % per annum, compounded annually. Find the amount he will receive at the end of the period.

Answer 1

Answer:

Amount: Rs.11125

Step-by-step explanation:

If we use formulas given below,

$p \times r \times t \div 100$

we get,

$10000 \times 7.5 \times 1.5 \div 100 = 1125$

And, For amount we get

$10000 + 1125 = 11125$

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