- 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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Answered by
17
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
Answered by
50
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
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