Question
What will Rs. 40,000 amounts to in 3 years at the rate
of 20% p.a., if interest is compounded yearly?Solution
A =P(1+r/100) n =40000(1+20/100)3 =40000Ă—6/5 Ă—6/5Ă—6/5 =320Ă—216 =69120.
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