future value of money questions with answers future value of money formula

Future value formula=P*(1+r)^n

Question:A invests Rs.10000 when he started working at the age of 25.He retires at the age of 55.What will be the future value of the money at the time he retires. Assume rate of interest=10%.

Soln:P=10000

        r=.1

        n=30

        F.V=P*(1+r)^n

              F.V=10000*(1+.1)^30

                        =Rs. 174494