Question
What will be the amount payable on Maturity of ₹2,000
invested for a period of three years.30% p.a. interest compounded yearly?Solution
Amount payable on the maturity. 2000(1 + 30/100)3 = 2000 x 1.33 =2000 x 2.197 = 4394 Rs. Rs. 4394 will be the amount payable on maturity if Rs. 2,000 is invested for a period of three years at 30% p.a. interest compounded yearly.
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