Mr. Singh deposited Rs5500 in a bank which page 14% interest per year. Find the amount he will receive after 3 years
Answers
Answered by
2
Answer:
7810
Step-by-step explanation:
amount deposited (P) = 5500
interest (R) = 14%
time (T) = 3 year
interest = PRT/100
=5500×14×3/100
=55×42
=2310
Total amount= Amount deposited + Interest
=2310+5500
=7810
Thankyou
Answered by
1
Answer:
deposit amount = 5500
interest per year = 14%
1% of 5500 = 5500÷100
= 55
14% of 5500 = 14×55
= 770
interest of first year = 14%
interest of third year = 14×3
= 42%
1% = 55
42% = 55×42
= 2310
total received amount = 5500+2310
= 7810
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