Vasudevan invested rupees 8000 at an interest rate of 9% per annum find the total amount that he will get after 3 years if the interest is compounded annually
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total amount (principle) = 8000
rate = 9% p.a.
time = 3 years
intrest is compounded so
A= P(1+r/100)^n
= 8000(1+9/100)^3
now first we open bracket and add by taking LCM
=8000(109/100)^3
=8000*109*109*109/(1000000)
=8*109*109*109/(1000)
=10360(approx)
so the amount is 10360
rate = 9% p.a.
time = 3 years
intrest is compounded so
A= P(1+r/100)^n
= 8000(1+9/100)^3
now first we open bracket and add by taking LCM
=8000(109/100)^3
=8000*109*109*109/(1000000)
=8*109*109*109/(1000)
=10360(approx)
so the amount is 10360
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