Question

How much should be deposited at the
beginning of each year for 10 years
in order to provide a sum af Rs 50000/-
at the end of to years. Assume an
vinterest rate 12%
of​

Answer 1

Answer:

5000rupees each year will be get 50000at the last of 10 years

Answer 2

Concept:

Compound interest (also known as compounding interest) is the interest on a loan or deposit that is computed using both the original principal and the interest accumulated over time.

Given:

Total amount after $10$ years = $Rs.50000$.

Time period n = $10 years$.

Rate of interest r = $12\%$.

Find:

The amount needs to be deposited at the beginning of the year.

Solution:

Total amount = principal amount*$(1+\frac{r}{100})^n$

$50000=P(1+\frac{12}{100})^{10}\\\\P= \frac{50000*(100)^{10}}{(112)^{10}} \\\\P = \frac{50000*(25)^{10}}{(28)^{10}} \\\\P = 16098.66$

Hence, the amount that needs to be deposited at the beginning is $Rs.16098.66$.