Question

8. Find the compound interest on 3,125 for 3 years if the rates of interest for the first second and third year are respectively 4%, 5%, 6%.
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Answer 1

Answer:

492.25

Step-by-step explanation:

Principal (P) = 3125

Rate of interest for continuous = 4%,5% and 6%

Period (n) = 3 years

We know that

Amount = P(1+r/100)

n

Substituting the values

=3125(1+4/100)(1+5/100)(1+6/100)

By further calculation

=3125×26/25×21/20×53/50

= 3617.25

Here

CI=A−P

Substituting the values

=3617.25−3125

=492.25

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Answer 2

Answer:

492.25

Step-by-step explanation:

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