Answer:
Compound interest = RS 63.7 (Approx.)
Explanation:
Given:
Amount deposit = RS 400
Rate = 3% = 0.03
Number of year = 5
Find:
Compound interest
Computation:
Compound interest = P[(1+r)ⁿ-1]
Compound interest = 400[(1+0.03)⁵-1]
Compound interest = RS 63.7 (Approx.)
