Question

How much will * 1000 amount to at 10% per annum in 3 years, interest being compounded annually​

Answer 1

Answer:

1100 Rs

Step-by-step explanation:

Amount = 1000 Rs

Par amount rate = 10%

Time = 3 years

so, interest = PRT/100

= 1000*10*3/100

= 300 Rs

interest of one year = 300/3

= 100 Rs

so, composed annually = 1000+100

= 1100 Rs

and total compounded interset = 3000+300 = 3300 Rs.

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