Question

A man saves ₹50,000 every year and deposit it at 20% p.a. calculate the amount at the end of the third year??​

Answer 1

For 1st year

P=50000,r=20,t=1yr

SI = p×r×t/100

= 50000×20×1/100

= 10000

A = P + SI

= 50000+10000

= 60000

For 2nd year

P = 60000,r = 20,t = 1yr

SI = 60000×20×1/100

SI = 12000

A = 72000

For 3rd year

P = 72000, r = 20,t = 1yr

SI = 72000×20×1/100

SI = 14400

A = 85400

Answer 2

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