Question

Manisha deposit
Rs. 500 with 12% compound interest
for 3 years.
find the final
amount at end
of each month​

Answer 1

Answer:

Simple interest=P×T×R/100

500×12×3/100= ₹180Ans//

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Answer 2

The amount received by Manish after 3 years is Rs. 700.

Given:

amount of money deposited by Manish = Rs. 500

rate of compound interest = 12%

time period = 3 years

To Find:

the amount Manish will receive after 3 years

Solution:

the amount received after t years when principal P is invested at r% interest compounded annually is given as-

amount = P(1 + r/100)^t

substituting the values into the formula we get-

amount = 500(1 + 12/100)³

= 500(1.12)³

= 500 × 1.40

= 700

Thus, the amount received by Manish after 3 years is Rs. 700.

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