Question

Mr Dubey borrows 100000 from a bank at 10% per annum Compound interest. What amount will he have to pay to the bank after 3 years ?​

Answer 1

Answer:

The answer to this question is Rs 133,100.

Step-by-step explanation:

According to this question,

We have to find the amount of money that Mr Dubey has to pay to the bank if he borrows Rs 100,000 from the bank at 10% p.a for 3 years compounded annually.

Formula to find Compound Amount:-

A = P(1 + R/100)T

A = 100,000(1 + 10/100)3

A = 100,000(11/10)3

A = 133,100

So, Mr Dubey has to pay Rs 133,100 to the bank.

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