Question

Rahul invests 25,000 annually at the rate of 6% for 3 years in a recurring deposit. How much
amount will he get at the end of 3 years?​

Answer 1

Given:

• Principal (p) = 25000
• Rate (r) = 6%
• Time (t) = 3 years

To Find

• Amount After 3 years

Solution:

$\\ \circ \: {\underline{\boxed{\tt{ Amount_{(A)} = P \left( 1 + \dfrac{r}{100} \right)^t }}}}$

Where

• t = time
• p = Principal
• r = Rate

Let the Amount be x

According to Question,

$\colon\implies {\tt{ Amount_{(A)} = 25000 \left( 1 + \dfrac{6}{100} \right)^3 }} \\ \\ \\ \colon\implies {\tt{ x = 25000 \left( \dfrac{53}{50} \right)^3 }} \\ \\ \\ \colon\implies {\tt{ x = 25 \cancel{000} \times \dfrac{53}{5 \cancel{0} } \times \dfrac{53}{5 \cancel{0} } \times \dfrac{53}{5 \cancel{0} } }} \\ \\ \\ \colon\implies {\tt{ x = 25 \times \cancel{ \dfrac{53}{5} } \times \cancel{ \dfrac{53}{5} } \times \cancel{ \dfrac{53}{5} } }} \\ \\ \\ \colon\implies {\tt{ x = 25 \times 10.6 \times 10.6 \times 10.6 }} \\ \\ \\ \colon\implies {\boxed{\mathfrak\pink{ x = 29775.4 }}}$

Hence,

• The Amount of the Transaction after completing 3 years will be ₹ 29775.4 .

____________________________