Question

At the the start of a year there where rupees 24000 in a savings account after adding rupees 56000 to this the entrie amount was invest in bank at 7.5 % compound interest what will be the total amount after 3 years

Answer 1

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$\large{\green{\underline \bold{\tt{Given :-}}}}$

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• At the start of a year there were Rs 24000 in a savings account.

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• After adding rupees 56000 to this the entrie amount was invest in bank at 7.5 % compound interest.

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• Time period = 3 years

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• Rate of interest = 7.5%

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$\large{\red{\underline \bold{\tt{To \: Find :-}}}}$

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• Total amount after 3 years

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$\large{\orange{\underline{\tt{Solution :-}}}}$

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• Total investment = Rs 24000 + 56000 = Rs 80000

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• Rate of interest = 7.5%

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• Time = 3 years

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⟬ Amount = $\sf P(1 - \dfrac { R } { 100 } )^n$ ⟭

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➣ R = Rate of interest = 7.5 %

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➣ n = Time period = 3 years

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➣ P = Principal amount = Rs 80000

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➜ $\sf 80000(1 + \dfrac { 7.5} { 100 } )^3$

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➜ $\sf 80000( \dfrac { 107.5 } { 100 } )^3$

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➜ $\sf 80000( 1.075 )^3$

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➜ $\sf 80000 \times 1.242$

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➨ Rs 99383.75

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• Therefore the amount after 3 years will be Rs 99383.75

Answer 2

Given :-

• Total Investment = Rs. 24000 + Rs. 56000 = Rs. 80000

• Rate of Intrest = 7.5 %

• Time period = 3 years

To Find :-

• The total amount after 3 years = ?

Solution :-

As we know that,

→ A = P ❲1 + r/100❳ⁿ

• Where, A is amount , P is principal, r is rate of intrest and n is time.

Now, subsitute the given values in above formula :

→ A = 80000 ❲1 + 7.5/100❳³

→ A = 80000 ❲1 + 75/1000❳³

→ A = 80000 ❲1 + 3/40❳³

→ A = 80000 × 79507/64000

→ A = 800 × 79507/64

→ A = 800 × 1242.29

→ A = Rs. 993837.5

Therefore,Rs. 993837.5 will be the total amount after 3 years.