if a man saves 700.00 at an annual interest of 10%, what is the interest after 3 years
Answers
Answered by
0
Step-by-step explanation:
For 1 st year
Principal=200
Amount=200×(1+
100
5
)
=200×
100
105
=210Rs.
For second year
Principal=200+210=410Rs.
Amount=410×(1+
100
5
)
=410×
100
105
=430.5Rs.
For 3 rd year
Principal=430.5+200=630.5Rs
Amount=630.5×(1+
100
5
)
=630.5×
100
105
=662.02Rs.
Similar questions