Question

manoj deposited a sum rupees 64000 in a post for 3 years, compounded annually at 7 units 1/2% per annum . what amount will he get on maturity.

Answer 1

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

Answer 2

Step-by-step explanation:

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