Q1 of 104 Page 465

What will 15625 amount to in 3 years after its deposit in a bank which pays annual interest at the rate of 8% per annum, compounded annually?

To find: The amount after three years


Given: (i) Principal – 15625


(ii) Time – 3 years


(iii) Rate – 8% per annum


Formula used:




A = 19683


Ans) 19683


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