Question

If pankaj deposits $1,50,000$ rupees in a bank at $10p.c.p.a$ for two years, what is the total amount he will get from the bank?

Answer 1

$P=1,50,000,r=10\%,t=2$

$A=P(1+\frac{r}{100}{)}^t=1,50,000(1+\frac{10}{100}{)}^2=1,81,500$

Hence, he will get $Rs.1,81,500$ from the bank.