Question

A man saves Rs 200 at the end of each year and lends at 5% compound interest. How much will it become at the end of 3 years.​

Answer 1

Answer:

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Step-by-step explanation:

answer is 662.02

Answer 2

Step-by-step explanation:

For 1 st year

Principal=200

Amount=200×(1+1005)

=200×100105

              =210Rs.

For second year

Principal=200+210=410Rs.

Amount=410×(1+1005)

=410×100105

=430.5Rs.

For 3 rd year

Principal=430.5+200=630.5Rs

Amount=630.5×(1+1005)

=630.5×100105

=662.02Rs.