Question

vinnet deposited ₹8500 in a finance company which pays 18%interest per year find the amount he will receive after 3 years

Answer 1

I=PRT
100
.°. I=8500×18×3
100
I=85×18×3
I=4590
AMT.=8500+4590
=13,090

Answer 2

Vinnet deposited amount = 8500
Finance company pays interest =18℅
One year interest = 8500÷100×18 =Rs 1530
Three years interest = 1530×3 =Rs 4590
Vinnet receive amount in three years =8500+4590 =Rs 13090