A man saves ₹50,000 every year and deposit it at 20% p.a. calculate the amount at the end of the third year
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Step-by-step explanation:
For 1st year
p=50000,r=20,t=1yr
I=p×r×t/100
50000×20×1/100
10000
a=p+i
=50000+10000
=60000
for 2nd year
p=60000,r=20,t=1yr
60000×20×1/100
12000
a= 72000
for 3rd year
p=72000,r=20,t=1yr
=72000×20×1/100
=14400
a= 85400
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