Ifran deposited rs 42,000 in two bank accounts. he deposited rs27,000in one account which gives 9.5 SI per annum and the remaining in another account which gives 11%per annum . how much interest will be receive after 3years.
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Answer:
A = p(1 + r)ⁿ
Write the interest rate in decimal
r = 8.5% = 0.085
Find the amount after 3 years:
A = 46000 ( 1 + 0.085)³
A = Rs 58,755.30
Find the interest:
Interest = 58,755.30 - 46000 = Rs 12755.30
Answer: Ridhima will get back Rs 58,755.30 after 3 years and the compound interest is Rs 12755.30.
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