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Find the compound interest on Rs. 20000 for 3 year, if the rate of interest is 5% for first year, 10% for the second year and 15% for the third year?1). Rs. 65152). Rs. 62653). Rs. 65554). Rs. 6665 |
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Answer» In 1st year, PRINCIPAL = Rs. 20000 Rate of interest = 5% ∴ AMOUNT, ⇒ 20000(1 + 5/100) ⇒ 21000 In 2nd year, Principal = Rs. 21000 Rate of interest = 10% ∴ Amount, ⇒ 21000(1 + 10/100) ⇒ 23100 In 3rd year, Principal = Rs. 23100 Rate of interest = 15% ∴ Amount, ⇒ 23100(1 + 15/100) ⇒ 26565 ∴ Interest EARNED = (26565 - 20000) = Rs. 6565 |
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