Eva invests $120 at the rate of the 3% per year Compound interest.
Calculate the total amount Eva has after 2 years.
Give your answer correct to 2 decimal places.
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Fisrtly we change $ to rupees = 120×75 = 9000rupees
Time = 2 years
Rate = 3%
C.I. = Principal (1 + Rate/100)Time − Principal
= 9000(1+3/100)2-9000
= 9000×103/100×103/100-9000
= 9548.1-9000 = 548.1 rupees
In$ = 548.1/75 = $7.308
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