Accountancy, asked by saif60854, 11 hours ago

mr. ashfaq deposited Rs. 100000 for 3 years in a bank at the rate of 15% profit per year. calculate total profit on deposited amount after three years.​

Answers

Answered by sowbhagya949
2

Answer:

1,22,504.03

Explanation:

Interest for the1

st

year =Rs

100

100000×1×7

=Rs7000

Amount after the1

st

year =Rs100000+Rs7000=Rs107000

Interest for the 2

nd

year =Rs

100

107000×1×7

=Rs7490

Amount after the 2

nd

year =Rs107000+Rs7490=Rs114490

Interest for the3

rd

year =Rs

100

114490×1×7

=Rs8014.3

∴ Amount at the end of the 3

rd

year =Rs114490+Rs8014.3=Rs122504.30

Similar questions