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Question
Harijyot deposited Rs 27500 in a deposite scheme paying 12 % p.a. compound interest . If the duration of the deposite is 3 years , calculate :
The amount received by him at the end of three years.
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Solution
`"C"_1 = (27500 xx 12 xx 1)/100 = 3300`
`"P"_1 = 27500 + 3300 = 30800`
`"C"_2 = (30800 xx 12 xx 1)/100 = 3696`
`"P"_2 = 34496`
`"C"_3 = (34496 xx 12 xx 1)/100 = 4139.52`
`"P"_3 = 38636`
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