Question

what sum of money will amount to rs 1472 in 3year at 5% per annum

Answer 1

Simple Interest=220.8
Sum = 16928.2
Simple interest= P×R×T/100
P- 1472
R-5%
T-3years
S I - 1472*5%*3 /100
= 220.8
S. I+P- 220.8+1472=1692.8

Answer 2

$<b>$

Principle = Rs.1472
Rate of interest = 5%
Year(n) = 3 years

Compounding at Annually,

Amount = P(1+$\frac{R}{100}$)^n

= 1472 (1 + $\frac{5}{100}$)^3

= 1472 ($\frac{105}{100}$)^3

= 1472 ($\frac{21}{20}$)^3

= 1472×$\frac{21}{20}$×$\frac{21}{20}$×$\frac{21}{30}$

= Rs.1704.04