Question

3. Mano deposit 1,50,000 in a finance company for 3 years. Find the compound interest
inance company
interest for consecutive three years are 10% pa,11%pa and 12% p.a., compounded annually
interestis 12a​

Answer 1

Answer:

Principal amount (P)=Rs.16000

Rate of interest, (R)=10% per annum or 5% per half year.

Time (n)=1

2

1

=

2

3

years.

∴A=P(1+

100

R

)

n

⇒=16000(1+

100

5

)

3

⇒=16000×(

100

105

)

3

⇒=Rs.18522