Harvinder deposited rs40000 in a post office for a period of 3 years. The post office credits the interest yearly in his account at 7%per annum compounded annually. Find the balance in his account for 3years
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Step-by-step explanation:
We have to find the amount
Amount = Principle×Rate×Time/100
=40,000×7×3/100
=400×7×3
=8400
Amount=Principle+Intrest
=40,000+8400
Amount=48400
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