Question

Ridhima deposits rupees 3600 in a bank that gives compound interest at 10% per annum how much money will Ridhima get back after 3 years . Also find the compound​

Answer 1

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Ridhima will get back Rs.4791.6 after 4 years.

Compound interest is Rs.1191.6 .

Step-by-step explanation:

To find:-

Amount which Ridhima get back after 3 years.

Compound interest.

Solution:-

Given that,

Ridhima deposited Rs.3600 in bank.

Compound interest at rate 10%.

Principal is Rs.3600 .

Rate of interest is 10%.

Time period is 3 years.

Here, work is going on yearly. So, we will use Compounded annually formula for Amount.

PUT THE AMOUNT FORMULA ND CONTINUE WITH THE PROCESS AND THE ANSWER WILL BE

                  ${\huge{\rm{\underbrace{Amount is Rs.4791.6 .\checkmark}}}}$

Thus,

Ridhima will get Rs.4791.6 after 3 years.

COMPOUND INTEREST =AMOUNT+PRINCIPAL

CI=1191.6

${\huge{\rm{\underbrace{Compound interest is Rs.1191.6 .\checkmark}}}}$