My bank pays me 4% simple interest. If I deposit one hundred rupees at the beginning of each year for five years, what would be my balance at the end of five years ?
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the answer is Rs563.28/-
ekrajnarang:
Can I get the answer with solutions?
first year you deposite Rs100 you get 4% interest it becomes Rs104
next year you deposite Rs100 again it become Rs204 you get 4% interest it become Rs212.16
and so onn for three times u can get your answer ok
How do you have Rs 212.16 the second year?
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