Question

anita borrowed rs1000 from a bank for 3 years at 11% per annum compounded annually.find the amount she has to return to the bank at the end of 3 years?

Answer 1

$ci = p{(1 + \frac{r}{n} )}^{nt}$
=
$1000 {(1 + \frac{0.11}{1} )}^{1 \times 3}$
=1367.63
amount is 1367.63