Meena deposited ₹ 15000 in a bank for 3 years. If the bank pays Ci at 10% per annum, compounded annually. Also find the CI. The answer is ₹ 4965
Answer my question with solution
Answer my question with solution
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Answer:
Here P= Rs. 15,000 and R=10%.
C.I. for second year = P×R/100×(1+R/100)
C.I. for second year = 15000×10/100×(1+10/100)
= 1500×11/10
= Rs. 1650.
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