Question

Anil deposited Rs 10000 for 3 years with a company which pays him interest at rate of 12% p.a., compounded annually. How much money will he obtain after 3 years?solve step by step.answer soon​

Answer 1

✬ Amount = Rs 14049.28 ✬

Step-by-step explanation:

Given:

• Principal (P) is Rs 10,000
• Rate is (R) 12% p.a
• Time (T) is 3 years .

To Find:

• How much money Anil will get after 3 years?

Solution: We know that

★ Amount = Principal ( 1 + R/100) ^n ★

• Putting all the value in formula •

$\small\implies{\sf }$ Amount = 10,000 ( 1 + 12/100)³

$\small\implies{\sf }$ Amount = 10,000 ( 112/100) ³

$\small\implies{\sf }$ Amount = 10,000 x 112/100 x 112/100 x 112/100

$\small\implies{\sf }$ Amount = 112 x 112 x 112/100

$\small\implies{\sf }$ Amount = 14049.28

Hence, The amount Anil will get after 3 years is Rs 14059.28