Manoj deposited a sum of rs 64000 in a post office for 3 years, compounded annually at15/2% per annum. What amount will he get on maturity

Answer 1

P = Po(1+r)^n.
Po = 64,000.
r = 7.5% = 0.075.
n = 1comp./yr. * 3yrs. = 3 Compounding periods.

Answer 2

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