Santosh invested rs.50000 in mutual funds paying interest 12% per annum, find the amount he will get after 3 years if the interest is compound annually also find the interest of the 3rd year .com
Answers
Answered by
11
annual interest
50000* 12% =6000
total interest of 3years
6000*3=18000
Santosh get after 3years amount of rupees
50000 +18000=68000
50000* 12% =6000
total interest of 3years
6000*3=18000
Santosh get after 3years amount of rupees
50000 +18000=68000
Answered by
8
Answer:
So, Amount = 50000(1+12/100) ^3
Amount = 70246.4
Explanation: as amount = P(1+R/100) ^T
Similar questions