Future Value Calculatin

FV = PV * (1 + r)^n

In this case,

FV = 100000* (1+0.016)^1

FV = Rs.101600

n = No of years ( 365 days equals to one year)

sridevi is cent% right... keep it up yaar

Thanks tanuja

 Thanks Sridevi.

Please note that actual question is " Calculate the Amount if Rs,1 lac is invested for 1 year at 6% compounded daily."

Please help me to solve this.

see first we should have compound daily interest tables

here r = 6% or 0.06

pv = 100000

m = 360 = no. of compoundings per year

FV = PV*(1+r/m)^n.m ( because it is non annual compounding)

FV = 100000*(1+0.06/360)^1*360

but according to the table if r = 6% and n=1 and it is compounded daily (360 days)

then the compounding factor is 1.0618

there fore, FV = 100000*1.0618 =Rs.106180

i am attatching compounding value daily tables. Plz find the same

bye

if u have any doubts in the above solution mail me to mvsvamshi88 @ gmail.com

ur way of explanation is very good....  and thanks 4 attachment.. it is usefull too all