Question

Shyam deposited 5000 at a simple interest of 5% per annum. What is the amount he received
after 3 years?​

Answer 1

Answer:

these answer is not correct but method is correct

Given, principal Amount (P) = Rs. 20000 

Rate of Interest Amount (r) =5%=0.05

Number of Period (t) =2 years 

Compounded Interest (n) =1 (yearly)

Maturity value = P×(1+nr)nt

= 20000×(1+10.05)2

= Rs. 22050