Question

Harvinder deposited 40,000 in a post office for a period of three years. The post
office credits the interest yearly in his account at 7% per annum compound
annually. Find the balance in his account after three year
​

Answer 1

Answer:

SI=P×R×T/100

7×40000×3/100=8,400

now,

total of 40,000+8,400=48,400