Manisha deposited 1000 at 5% per annum of compound interest for 3 years with State Bank of India. What will she get back at the expiry of the period ?
Answers
Answered by
0
Answer:
Step-by-step explanation:
1000 + 5% x 1000 =1050. 1050 + 5% x 1050 = 1102.5. 1102.5 + 5% x 1102.5 = 1157.625 which is the answer. Hence she will get 1156.625 rs after the expiration period.
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Answered by
5
Answer:
Step-by-step explanation:
P = 1000, R = 5%, T = 3yrs.
Year 1:
I = PTR/100
=1000x1x5/100
=50
A = 1000 + 50
=1050
Year 2:
I = PTR/100
=1050x1x5/100
=52.5
A = 1050 + 52.5
=1102.5
Year 3:
I = PTR/100
=1102.5x5x1/100
=55.125
A=1102.5+55.125
=1157.625
Total amount returned back is 1157.625.
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