Question

MANOJ DEPOSITED A SUM OF ₹64000 IN A POST OFFICE FOR 3 YEARS , COMPOUNDED ANNUALLY AT 15/2% PER ANNUM . FIND THE COMPOUND INTREST HE GETS

1ST ANSWER I WILL MARK AS BRAINLIST FULL EXPLAINATION NEEDED​​

Answer 1

Step-by-step explanation:

Rs.79507

Step-by-step explanation:

Principal = Rs.64000

Time = 3 years

Rate of interest = 15/2 %

No. of compounds per year , n = 1

Amount =P(1+\frac{r}{n})^{nt}Amount=P(1+nr)nt

Amount =64000(1+\frac{15}{200})^{3}Amount=64000(1+20015)3

Amount =79507Amount=79507

Hence he will get Rs.79507 on maturity

hope it's helpful... dear.

Answer 2

Required answer :

Principal = Rs.64000

Time = 3 years

Rate of interest = 15/2 %

No. of compounds per year , n = 1

$\sf Amount = P ( \ 1 + \dfrac{r}{t} \ )^{nt}$

$= \sf 64,000 \ ( \ 1 + \dfrac{15}{200} \ ) ^{3}$

Therefore , the Amount = 79507

Hence he will get Rs.79507 on maturity