Question

Mohan deposited Rs. 80 in a cumulative deposit account for 6 years. Find the amount payable to him on maturity, if the rate of interest is 6% per annum.

Answer 1

Heyyyyyyyy!!!!!!

Answer Of Your Question☺️
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Firstly:-

p=80
r=6%
t=6

If simple Interest:-

then,..

p×r×t/100

=80×6×6/100

=28.8

so, he should give,
=(80+28.8)
=108.8
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If compound Interest,,,

p(1+r/100)^t

=80(1+6/100)^6

=80×(106/100)^6

=113.48
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So, in simple Interest, he has to give Rs. 108.8

in compound Interest, he has to give Rs. 113.48
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Hope My Answer Helped you✌️✌️
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