Question

A man invests Rs. $46875$ at $4\%$ per annum compound interest for $3$ years, then calculate the amount standing to his credit at the end of the second year.

Answer 1

Given : $P=46875$, $R=4\%$, $T=2$

$A=P(1+R{)}^T$

$A=46875(1+4{)}^2$

$A=46875\times 5^2$

$A=46875\times 25=1171875$