Question

Heena deposited Rs.2000 in the bank for 3 ¼ years at the interested rate of 10 % p.a. compound annually. Calculate the amount she received at the end if term



answer is rs. 2728.28 i want explaintion please give explaintion

i will give unlimited thanks to him or her but give correct answer otherwise i will report unlimited answers​

Answer 1

Answer:

After $3\frac{1}{4}$ years, total Amount Receivable = ₹2662 + ₹66.55 = ₹2728.55

Step-by-step explanation:

For a Principal Sum, P

Annual Rate percent, R

After completion of one year:

Amount, A = P + $\frac{PR}{100}$ = P(1 + $\frac{R}{100}$ )

After completion of two year:

Amount, A = P(1 + $\frac{R}{100}$ ) + P(1 + $\frac{R}{100}$ )$\frac{R}{100}$  = P(1 + $\frac{R}{100}$ )(1 + $\frac{R}{100}$ ) = P$(1 + \frac{R}{100}) ^{2}$

After completion of three years:

Amount, A = P$(1 + \frac{R}{100}) ^{2}$ + P$(1 + \frac{R}{100}) ^{2}$$\frac{R}{100}$ = P$(1 + \frac{R}{100}) ^{2}(1 + \frac{R}{100})$  = P$(1 + \frac{R}{100}) ^{3}$

Here, P = ₹2000, R = 10% p.a.

∴ After completion of three years, Amount receivable = ₹2000$(1 + \frac{10}{100} )^{3}$

= ₹2000 x 1.1 x 1.1 x 1.1 = ₹2662

For the first quarter on the 4th year:

Additional Amount receivable = ₹2662 x $\frac{10}{4 x 100}$ = ₹66.55

∴ After $3\frac{1}{4}$ years, total Amount Receivable = ₹2662 + ₹66.55 = ₹2728.55

Answer 2

refer to the attachment