272,531 views
39 votes
39 votes
The compound interest on Rs/- 400 at 3% p.a. for 5 years is _____​

User Shawn
by
3.1k points

1 Answer

22 votes
22 votes

Answer:

Compound interest = RS 63.7 (Approx.)

Step-by-step explanation:

Given:

Amount deposit = RS 400

Rate = 3% = 0.03

Number of year = 5

Find:

Compound interest

Computation:

Compound interest = P[(1+r)ⁿ-1]

Compound interest = 400[(1+0.03)⁵-1]

Compound interest = RS 63.7 (Approx.)

User Bajro
by
3.0k points