Mr Subhash Gupta deposit deposit 2500 Rupees in crystal Bank if the bank pays compound interest at the rate of 20% per annual find the amount received by Mr Gupta after 3 years
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Principal = ₹2500
Rate = 20% per annum
Time = 3years
As we know that,
A = P(1+r/100)³
= 2500(1+20/100)³
= 2500 x 1.728
= ₹4320
Therefore, amount = ₹4320
Rate = 20% per annum
Time = 3years
As we know that,
A = P(1+r/100)³
= 2500(1+20/100)³
= 2500 x 1.728
= ₹4320
Therefore, amount = ₹4320
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