Question

ranjan deposits ₹4200 in his saving account. What amount will he get after 3 years if bank is paying interest at the rate of 6.25% per annum​

Answer 1

Step-by-step explanation:

Principal= Rs 4200

Time = 3 years

Rate it interest= 6.25%

Formula

A= P ( l+ r ) ^t

A= 4200( 1+ 0.0625)^3

A = 5037.74

Hence , he will get Rs 5037.74 as amount after 3 years .

Hope it helps you

Answer 2

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Given :

• Rajan deposits ₹4200 in his saving account.

To find :

• What amount will be get after 3 years, if bank is paying interest at the rate of 6.25% per annum?

Solution:

Principal = Rs.4200

Time =  3years

Rate of interest = 6.25%

Formula :

A=P(1+r)^t

A=4200(1+0.0625)³

A=4200(1+0.0625)³

A=5037.74

Hence he will get Rs.5037.74 as amount after 3 years