Q1 of 14 Page 92

Anas deposited 20000 rupees in a bank which pays 6% interest compounded annually. How much would he get back after 3 years?

Now, we are using the formula to calculate the same.

Amount after n year = investment + CI after n years


= investment


Here, investment = 20000Rs,


rate=6%,


n=3years


Amount after n year =


= 23820.32Rs


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