Question

Rahul and Rajani opened accounts in a bank on the same day, each depositing 8000 rupees. After one year, Rahul withdrew the entire amount including interest and re-deposited it. After one more year, both closed their accounts. How much did each get? Why are the amounts different?​

Answer 1

Step-by-step explanation:

we know that,

A=P(1+100R)n

Putting the values in this formula we will get the amount

Principal is 8000

time is 3 years

rate is 3%

so,

=8000(1+1005)3

=8000×(1.05)3

=8000×1.1576=9261

After 3 years he will get Rs9261