Math, asked by mridult130, 1 month ago

Preeti invested ₹50,000 at 8% per annum for 3 years and the interest is compounded annually . Calculate: (A) the amount standing to her credit at the end of the second year. (B) the interest for third year​

Answers

Answered by bhagwatranjana72
1

Step-by-step explanation:

We know that,

P'=P(1+r)^t

P'= amount of money after t time

P = principal = 50000

r = rate of interest = 8% compounded annually

t = time period = 2 (as we are calculating the amount at the end of 2 year)

Putting the values,

P'=50000(1+0.08)^2

=50000(1.08)^2

=50000\times 1.1664

=58320

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