manoj deposited a sum rupees 64000 in a post for 3 years, compounded annually at 7 units 1/2 percent per annum. what amount will he get on maturity.
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Given Principal= P= 64000
Rate of interest Per Annum= i = 7.5%
Time = n = 3 years
Compounded Amount = P(1+i)^n = 64000(1+7.5/100)^3
= 64000(1 + 0.075)^3
=64000(1.075)^3
=64000(1.242296875)
= 79500
Rate of interest Per Annum= i = 7.5%
Time = n = 3 years
Compounded Amount = P(1+i)^n = 64000(1+7.5/100)^3
= 64000(1 + 0.075)^3
=64000(1.075)^3
=64000(1.242296875)
= 79500
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