Yasmeen deposited Rs. 20,000 in a bank. She gets interest at a rate of 10 p.c.p.a.
which is compounded on yearly basis. Yasmeen intends to withdraw the total amount
only after 3 years. What is the amount on interest she will get altogether?
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2
Answer:
Madhu diposited Rs 20000 in a bank.
Rate =10% per annum compounded annually.
Time=
2
3
years.
We know that,
Total amount =P(1+
100
R
)
n
=20000(1+
100
10
)
2
3
=22000
Interest=Amount−Principle=22000−20000=2000
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