Question

a man saves rupees 3000 every year and invest it at the end of every year at 10% compound interest calculated the total amount of his savings at the end of 3rd year

Answer 1

Step-by-step explanation:

Amount (A) = 3000

Rate (r) = 10%

Time (n) = 3rd year

Compound interest = A + ( 1 + r/100 ) ^n

= 3000 + ( 1 + 10/100) ^3

= 3000 + ( 110/100) ^3

= 3000 + ( 1.1)^3

= 3000 + ( 1.331)

= 3000 + 1.331

= 3001.331 Rs

I think so this is the correct answer

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