a man deposited Rs. 5000 in a bank at compound interest of 6%. what amount will he get back after 3 years?
please answer me fast because tomorrow is my exam and I will mark the answers as brainliest!!!
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a man deposited Rs. 5000 in a bank at compound interest of 6%. what amount will he get back after 3 years?
please answer me fast because tomorrow is my exam and I will mark the answers as brainliest!!!
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Answer:
Step-by-step explanation:
interest of the bank=r%,and the taken time=t
So, the amount which the man will give back after 3 years later with 6% of interest=
P(1+r/100)^n
=5000(1+6/100)^3 rupees
=5000(106/100)^3 "
=5000×53/50×53/50×53/50 "
=5955.08 rupees [ANS]