Hari deposited 40000 in a post office for a period of 3 years at 7 p.c.p.a. compounded annually. Find the balance in his account after 3 years.
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Answer:
49001.72
Step-by-step explanation:
Amount = Principal×[1+R/100]³
Amount = 40000×[1+ 7/100]³
Amount = 40000×[107/100]³
Amount = 40000× 107/100 × 107/100 × 107/100
Amount = 49001720000/1000000
Amount = 49001.72
Thank You
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