Question

At the start of a year there were Rs. 24,000 in a savings account. After adding Rs. 56,000
to this the entire amount was invested in the bank at 7.5% compound interest. What will
be the total amount after 3 years ?​

Answer 1

Dear Student,

◆ Answer -

Total amount after 3 years = 99384 Rs

● Explaination -

Total principal after adding two amounts.

Principal = 24000 + 56000

Principal = 80000 Rs

Total payement by compound interest after 3 years is -

Total = P (1+r)^t

Total = 80000 (1 + 7.5/100)^3

Total = 99384 Rs

Therefore, total amount after 3 years becomes is 99384.

Good luck for ur bright future dear...