Jane deposited 20,000 with a manufacturing
company for 3 years. If the rate of interest is
14% p.a., compounded annually, what
interest will she receive after 3 years?
Answers
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2
Madhu diposited Rs 20000 in a bank.
Rate =10% per annum compounded annually.
Time=
2
3
years.
We know that,
Total amount =P(1+
100
R
)
n
=20000(1+
100
10
)
2
3
=22000
Interest=Amount−Principle=22000−20000=2000
Have a great day ahead mate ❤️
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