Question

Calculate the future value of RS.100000 if you deposit in the bank at 6% per annum rate of interest for 5 years

Answer 1

now if we take at compound interest the formula

c.i=amount {(1+rate)*years-1}

c.i=100000((1+.06)*5-1)

=100000(.3382255776)

=33822.55776

if we take in simple intrest

amount×time×rate/100

100000x6x5/100=30000