A man invests ₹50000 at 7% p.a for three years calculate 1 the amount at the end of second year 2 difference in the interest for 3

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1. Answer:

   Principal = Rs.50000

   Rate of interest = 8%

   Time = 3 years

   We are supposed to find the amount after 2 years

   So, time = 2 years

   Formula :

   So, the amount standing to her credit at the end of the second year is 58320

   Now we are supposed to find the interest for third year

   Interest till second year = Amount of 2 years – Principal= 58320 – 50000 = Rs.8320

   Calculate the amount after 3 years

   Interest till third year = Amount of 2 years – Principal= 62985.6 – 50000 = Rs.12985.6

   So, Interest for third year = Interest till 3rd year – Interest till 2nd year

   Interest for third year = 12985.6 – 8320

   Interest for third year =Rs.4665.6

   So, the interest for third year is Rs.4665.6

   Step-by-step explanation:

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