Question

What will be cumulative interest on Rs. 1000 and the rate of 10% per annum for a period of 3 years

Answer 1

Answer:

1000 into 10% = 100

so ,1 years rate (1000+100)=1100

1100 into 10 % = (1100× 10) ÷100= 110

so , 2 years total rate is, (1100+110)=1210

1210 into 10%=(1210×10)÷100=121

so 3 years rate is Rs.(1210+121)=Rs.1320

bye the away answer is Rs.1320

Step-by-step explanation: