Question

Manju deposited Rs 40000 in a bank for 3 years compounded annually at 5% per annum find the compound interest she gets​

Answer 1

Answer:

A=p(1+r/100)power n

A=40000(1+5/100)power 3

40000* 21/20* 21/20* 21/20

46,305

Answer 2

Answer:

The compound interest that Manju will get about Rs. 46,305.

Given:

Manju deposited Rs 40000 in a bank for 3 years compounded annually at 5% per annum  

To find:

Find the compound interest she gets

Solution:

Interest in compound interest  = P $(1 + \frac{r}{100})^{n}$

P=40000, r=5, n=3

Substituting the values in the formula, we get

Interest = 40000 $(1 + \frac{5}{100})^{3}$

    = 40000 $(\frac{21}{20} \times \frac{21}{20} \times \frac{21}{20})$

    = 46,305. Rs

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