Kalpana deposits 1500 in her bank account. The bank offers an interest of 6% per annum compounded yearly. Find the total interest in her account at the end of 3 years.
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Money she deposits in bank=1500
Interest the bank offers =6%
Money in account of a year = 9000
Money in the account at the end of 3 years =27000
So after 3 years, the money in her account was 27000.
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Step-by-step explanation:
principal amount (p) =Rs1500
Time period (T) =3yrs
Rate of interest =6%
simple interset=P*R*T/100
=1500*6*3/100
=270
Total money paid in a year
=principal amount +simple interest
=1500+270
=1770
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