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

Answer:

79507

Step-by-step explanation:

Present value = Rs.64000

Interest rate = (15/2) % per annum

Time = 3 years

Amount (A) = P (1 + R/100)n [Where, P = Present value

R = Annual interest rate

n = Time in years]

∴ A = 64000 [1 + (15/2 × 1/100)]3

⇒ A = 64000 [1 + 3/40]3

⇒ A = 64000 (43/40)3



⇒ A = 1 × 43 × 43 × 43

⇒ A = 79507

∴ Manoj will get an amount of Rs.79507 after 3 years.