Question

the amount on rs 16000 for 3 years at 5%per annum compounded anually is

Answer 1

Ci = A = P ( 1 + R/100 ) ^N

P = 16,000

R = 5%

N = 3

= 16,000 ( 1 + 5/100 ) ^3

= 16,000 x ( 1 + 1/20 ) ^3

= 16,000 x 21/20 x 21/20 x 21/20

= 2 x 21 x 21 x 21 = 18,522 ans