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Har nin der daso. deposited of 40,000 in a post
office for a period
of three years. The
post office credits the interest yearly in this
account at 7%
compounded.
annually find the balance in his account after
pex
annum
three years,
Answers
Answered by
5
Given that,
Principle amount =Rs.40,000, Rate of compound interest =7%, Time t=3 years
Total amount after three years =p+p(1+
100
r
)
t
=40,000+40,000(1+
100
7
)
3
=40,000+40,000(1+0.7)
3
=40,000+40,000×1.225
=Rs.89001.72
Hence, this is the required solution.
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