Question

Sunita invested ₹50, 000 in mutual funds paying an 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 years.

Answer 1

Answer:

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

Step-by-step explanation:

hope it will help u

Answer 2

Answer:

The amount after 3 years = ₹70,246.4

The interest of the 3rd year = ₹7526.40

Step-by-step explanation:

Principal (P) = ₹ 50, 000

Rate of interest (r) = 12 % per annum

Time (n) = 3 years

⇒ $P \: (1 \: + \frac{r}{100})^{n}$

⇒ $50,000 \:(1 \: + \frac{12}{100}) ^{3}$

⇒ $50,000 \: ( \frac{112}{100}) ^{3}$

⇒ $50,000 \: ( \frac{56}{50})^{3}$

⇒ $50,000 \: ( \frac{28}{25})^{3}$

⇒$\frac{21,952 \: \times \: 50,000}{15,625}$

⇒ 70,246.4

The amount after 3 years = ₹ 70,246.4

____________________________

★ Amount after 2 years :

⇒ $50,000 \: (1 \: + \: \frac{12}{100})^{2}$

⇒ $50,000 \: ( \frac{112}{100})^{2}$

⇒ $\frac{50,000 \: \times \: 784}{625}$

⇒ 62,720

Amount after 2 years = ₹ 62,720

____________________________

★ The interest of the 3rd year :

⇒ ₹ 70,246.4 - ₹ 62,720

⇒ ₹ 7526.40

The interest of the 3rd year = ₹ 7526.40

Therefore,

The amount after 3 years = ₹ 70,246.4

The interest of the 3rd year = ₹ 7526.40