Question

- Santosh invested rs 50,000 in mutual funds paying interest 12% per annum. Find the amount he will get after 3 years if the interest is compounded annually. Also find the interest of the 3rd year.
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Answer 1

Answer:

Money=50000

Interest/annum=12%

Money should give per year as interest:

50000*12/100=6000

Interest after 3 Yr = 6000*3 =18000

After 3 Yr he should give

50000+18000=68000

Answer 2

P=₹50000

R=12%

T=3year

Amount=P[(1+R/100)³

=50000[(1+12\100)³

=50000(112/100)³

=50000×28/25×28/25×28/25

=50000×21952/15625

=₹70246.4 answer