7. How much will 50,000 amount to in 3 years,compounded yearly, if the

1.	7. How much will 50,000 amount to in 3 years,compounded yearly, if the rates for thesuccessive years are 6%, 8% and 10%respectively.
Answer» Principle amount P = 50000, n = 3 years, Amount = A Amount = 50000(1+(6/100))(1+(8/100))(1+(10/100))= 50000(1.06)(1.08)(1.10)= 62924 Therefore, After 3 years 50000 amount to Rs 62964

7. How much will 50,000 amount to in 3 years,compounded yearly, if the rates for thesuccessive years are 6%, 8% and 10%respectively.

Answer»

Principle amount P = 50000, n = 3 years, Amount = A

Amount = 50000*(1+(6/100))*(1+(8/100))*(1+(10/100))= 50000*(1.06)*(1.08)*(1.10)= 62924

Therefore, After 3 years 50000 amount to Rs 62964