Manoj deposited a sum of Rs.64,000 in a post office for 3 years, compounded annually at 7 ½ % per annum If r=10% then what amount will he get on maturity?
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Answer:
79507
Step-by-step explanation:
principal=RS 64,000
TIME= 3YEAR
RATE OF INTREST= 15/2 percent
no. of compouds per year n,1
amount= P (1+r/n)nt
amount =64000(1+15/200)3
amount =79507
hence he will get RS 79507on maturity
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