Sum
Natasha gave Rs.6O,OOO to Nimish for 3 years at 15%,p.a. compound interest.
Calculate to the nearest rupee :
The amount Natasha receives at the end of 3 years.
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Solution
`"C"_1 = (60000 xx 15 xx 1)/100 = 9000`
`"P"_1 = 69000`
`"C"_2 = (69000 xx 15 xx 1)/100 = 10350`
`"P"_2 = 79350`
`"C"_3 = (79350 xx 1 xx 15)/100 = 1190.25`
`"P"_3 = 91252.5`
Concept: Concept of Compound Interest - Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
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