Question

₹ 7500 is borrowed at compound interest at the rate of 2% per annum for the first year and 4% per annum for the second year and 5% per annum for the third year. The amount to be paid after 3 years is:
(a) ₹ 8353.80 (b) ₹ 8520.20 (c) ₹ 9261 (d) ₹ 8432​

Answer 1

Let the three consecutive multiples of 8 be 8x, 8x + 8 and 8x + 16.

As per the conditions, we get

8x + (8x + 8) + (8x + 16) = 888

⇒ 8x + 8x + 8 + 8x + 16 = 888

⇒ 24x + 24 = 888

⇒ 24x = 888 – 24 (transposing 24 to RHS)

⇒ 24x = 864

⇒ x = 864 ÷ 24 (transposing 24 to RHS

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Answer 2

Answer:

Let the three consecutive multiples of 8 be 8x, 8x + 8 and 8x + 16.

As per the conditions, we get

8x + (8x + 8) + (8x + 16) = 888

⇒ 8x + 8x + 8 + 8x + 16 = 888

⇒ 24x + 24 = 888

⇒ 24x = 888 – 24 (transposing 24 to RHS)

⇒ 24x = 864

⇒ x = 864 ÷ 24 (transposing 24 to RHS

Hope this helped!