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3. Find the compound interest on 3125 for 3 years if the rates of interest for the first,second and third year are respectively 4%, 5% and 6% per annum |
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Answer» P = 3125T = 3 yearsR1 % = 4% , R2% = 5%, R3% = 6%A = P (1 + R/100)^TA = 3125 ( 1 + 4 / 100) ( 1+ 5/100) (1+6/100)= 3125 × 104/100 × 105/100 × 106/100=3,617.25CI = A - P=3,617.25 - 3125=492.25 |
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