1.

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

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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