Question

John deposited rupees 5,500 in a finance company which pays 14% interest per hour find the amount he will receive after 3 year

Answer 1

hope this will help you

Answer 2

Correct Question :

John deposited ₹ 5500 in a finance company which pays 14% interest per year. Find the amount he will receive after 3 years.

Answer :

Interest on $₹100$ for $1$ year = $₹14$

∴ Interest on $₹1$ for $1$ year = $₹ \dfrac{14}{100}$

∴ Interest on $₹5500$ for $3$ years = $₹ \dfrac{14}{100} \times 5500 \times 3 = ₹2310$

∴ Amount = $₹5500 + ₹2310 = ₹7810$

∴ John will receive $₹7810$ after $3$ years .