Question

If 5000 rupees is deposited in a bank for 3 years at 10% interest, what is the actual interest each year? what is the total interest ? what is the amount at the end of 3 years including principal and interest?

please answer ​

Answer 1

Compounding frequency Principal amount Interest earned

Monthly Rs.10,000 Rs.656

Quarterly Rs.10,000 Rs.660

Yearly Rs.10,000 Rs.677