santhosh invested 50, 000 in mutual funds paying intrest 12 % per annum . find the amount he will get after 3 years if the intrest is compounded anually . also find the intrest of the 3 rd year
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Interest for the 1st year=50000*12/100=6000
Interest for the 2nd year=56000*12/100=6720
Interest for the 3rd year=62720*12/100=7526.4
Amount at the end of the 3rd year
=62720+7526.4=70246.40
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